Malawi budget out Friday

Malawi budget out Friday

Lilongwe : Malawi | Jun 07, 2012 at 2:56 AM PDT
Views: Pending
Joyce Banda sworn in as president of Malawi

Malawi Minister of Finance will Friday June 8 2012 present the country's 2012/13 national budget which is a complete run away from the much touted zero deficit budget.

The Finance Minister, Ken Lipenga, is expected to present the budget from 14:00 hours, and Malawians are eagerly waiting to see tax reforms and salary increase news, among many others.

This will be the first budget presentation under the Joyce Banda administration which has been busy making mends in fallen ties with the country's diplomatic missions and development partners.

Mrs. Joyce Banda ascended to the Presidency on April 7 2012 following the demise of Professor Bingu wa Mutharika on April 5 2012.

Mutharika came in a line of fire with the major donors and development partners like Britain and the International Monetary Fund for following certain policies that did not go on well with the donor community.

Under President Mutharika Malawi adopted zero deficit budget two years ago but with the new concept Malawians did not only witness the birth of new taxes but also the revision of many taxes that forced many Malawians suffer as prices of basic commodities went up yet wages were not revised accordingly.

Recently, the Malawi government allowed the devaluation of the Malawi kwacha by 49 percent which has also pushed prices of many items including the transport sector up.

It is yet to be known whether the Malawi government will revise salaries in accordance with the current living standards of the ordinary Malawian.

Debate of the budget will be done from Monday for the next two weeks, speaker of the Malawi National Asssembly Henry Chimunthu Banda has confirmed.

Lipenga is amongest the few ministers that President Mrs. Joyce Banda has maintained in his maiden cabinet and on the same post.

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Malawi's President Bingu wa Mutharika (R) and Vice President Joyce Banda (L) wave to supporters
Malawi's President Bingu wa Mutharika (R) and Vice President Joyce Banda (L) wave to supporters
TAPITAYA is based in Blantyre, Blantyre City, Malawi, and is a Reporter on Allvoices.
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