Finance Minister Goodall Gondwe is expected to deliver a 2014/15 National Budget which has been pegged at MK743billion (US$1.8billion) to the next seating of Parliament slated for September.He said in the capital Lilongwe on Thursday that the financial plan to be presented is a 16 percent increase from last financial year’s budget which was at MK640billion (US$1.6billion).
“This year’s budget will be unique because most of the resources will be sourced domestically while waiting for our partners to help in certain areas,” he said.
Despite sourcing funds domestically, he said, government was having myriad trouble to come up with the national budget due to suspension of aid by some of the country’s donors.
The country’s partners under Common Approach to Budgetary Support (CABS) are withholding about $150 million for Malawi due to massive looting and plundering of public resources.
Meanwhile Speaker of Parliament Richard Msowoya has announced the second meeting of the National Assembly in the 45th session which is also the budget meeting from September 1 to October 3.
The meeting follows the expiry of a provisional three-month budget which was presented in June.