Finance Minister presents 3.8 trillion kwacha 2023/2024 budget

Minister of finance and economic affairs Sosten Gwengwe has presented the 3.8 trillion kwacha budget for 2023 to 2024 fiscal year

Gwengwe said the Education sector has been allocated K603 billion, Agriculture K455 billion and health 330 billion kwacha.

According to the finance minister civil servants salary has been increased by 8 percent and an introduction of transport allowance

Gwengwe said Affordable Input Program AIP has been allocated K117 billion and chiefs honoraria doubled

He has also allocated 45 billion kwacha for preparation of 2025 general elections

The finance minister says government has allocated resources towards the setting up of a mineral laboratory in the country.

Commenting Economics Association of Malawi ECAMA says the country’s budget deficit will continue to affect implementation of the 2023/2024 national budget.

ECAMA President Frank Chikuta asked the minister to work on the recurrent expenditures which affect the country’s development expenditure.