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The Democratic Progressive party has challenged government to consider addressing the issue of the public debt and unemployment rate in the upcoming 2023/2024 national budget for the financial year.
This comes as Minister of Finance Sosten Gwengwe is set to present the national budget in the august house this afternoon.
However, Fomer finance minister and DPP legislator, Joseph Mwanamvekha has urged government to bring in new measures that will ensure the country deal with increasing public debts and reduce unemployment rate.
According to Mwanamvekha government should also make plans that will help in increasing local production as the country is losing more Forex due to increase in importation of various goods which is leading to high cost of living among Malawians.
He also stressed on the need for the government to consider cutting unnecessary costs, improve on exports and empower the youths as some of the factors that can help improving the country’s economic status on borrowing.
Mwanamveka has also indicated that is not expecting realistic budget as has been the case all along from the Tonse Alliance leadership.
Meanwhile the last ending 2022/23 budget, pegged at 2.84 trillion has lauded by experts saying that is has failed to meet the inspired hope to Malawians due to Ukraine-Russia war and pandemics including Cholera and COVID-19.
Last national budget saw the Education sector going away with a lion’s share of K462. 24 billion, representing 16.3 percent of the total budget, seconded by Agriculture sector which got K447. 66 billion, making 15.8 percent of the whole budget and Health sector came third with about K283 billion share.
The budget among others saw Constituency Development Fund CDF being increased from 40 to 100 million kwacha and it also saw value added tax on some essential goods such as cooking oil, tapped water and sanitary pads being struck-off.
As pro-poor as the budget looked; cost of living has risen, teachers recruitment has been a concern, development has staggered and hunger continues affecting many households in the country.
