Government revises upwards 2020/2021 national budget
Government has revised the 2020 to 2021 national budget from 2.19 trillion kwacha to 2.33 trillion kwacha
This has been noted when Minister of finance Felix Mlusu was presenting the mid-year budget review in parliament
Mlusu said they have decided to do so because the 2.19 trillion kwacha budget has not done well in the first half due to second wave of COVID-19 and re-administration of MSCE examinations among others
He said the revised budget has a deficit of 810 billion kwacha but government has managed to collect 548.7 billion kwacha tax revenue
Mlusu added government is at an advanced stage on the establishment of debt retirement fund which will be implemented from 1st July
“We have done so to reduce the public debt which the country has to a sustainable level,” Mlusu
He said World Bank has dispersed 15 million US Dollars out of the 86 million Dollars which parliament approved for improving enterpreneurship
According to Mlusu disbursement of the money to small scale and medium enterprises will be implemented in mid March
He said government has commenced the payment of arrears which will prioritise SME’s
“The SME’s will access the finance after thorough verification by officer of auditor general,” Mlusu
Reacting spokesperson of Democratic progressive party on financial issues Joseph Mwanamveka said the budget is off track because what was planned has not been achieved
He said most of the promises made by Tonse Alliance are not included to be fulfilled in the budget which means it is not going to satisfy needs of Malawians
