GOVT OWE COMPANIES OVER K 70 BILLION

As President Professor Arthur Peter Mutharika is spending a sleepless night thinking how he can get back the country’s economy on its feet as preached when he was sworn in as President , another burrier to the dream has emerged.

FaceofMalawi has discovered that the Treasury is expected to cough over K 70 billion this financial year alone to service company payment-arrears accumulated during the previous financial year.

This however excludes the K 340 billion domestic debt that the country is also required to pay back, whose total allocation in this financial year is yet to be determined.

Speaking in an interview, Minister of Finance spokesperson Nations Msowoya denied to give details on the matter saying only the minister of Finance Goodall Gondwe will be in the better position to give the details during the presentation of 2014/15 national budget.

Without peeping into finance minister Goodal Gondwe‘s 2014/15 national budget presentation to parliament, one would rate the financial plan as a mixed bag.

During the pre-budget consultation held country wide, Gondwe disclosed that the 2014/15 nation budget has jumped from K630 billion to K743 billion.

Meanwhile Malawians are waiting with keen interest to see how the Mutharika administration’s national budget will be.