Rédaction Africa Links 24 with Taonga Sabola
Published on 2024-03-12 07:55:22
The Opposition Democratic Progressive Party (DPP) and United Democratic Front (UDF) have criticized the 2024-25 national budget presented by Finance Minister Simplex Chithyola Banda, calling it hypocritical, deceitful, and dead on arrival. Joseph Mwanamvekha, the DPP spokesperson on Finance, expressed concerns about the unrealistic assumptions regarding economic growth and revenue projections in the budget.
Mwanamvekha highlighted the challenges posed by the current rainy season influenced by El Nino, resulting in severe dry spells that could reduce crop production and increase food insecurity. He also criticized the government for overspending in previous years and questioned the credibility of the budget approval process.
The former Finance minister raised doubts about the revenue projections in the budget, particularly the expectations from the Malawi Revenue Authority (MRA) to collect significantly higher amounts despite previous challenges in tax collection. Mwanamvekha also pointed out the lack of adequate allocations for key economic growth pillars like agriculture, industrialization, and urbanization in the budget.
On the other hand, UDF spokesperson on finance Kapichira Mussa expressed concerns about Malawi’s economic status, citing limited revenue generation capacity and unsustainable borrowing levels. He emphasized the need for value-for-money investments in high-growth sectors to achieve sustainable economic growth.
During the budget debate, Ntchisi South MP Ulemu Chilapondwa questioned the credibility of Mwanamvekha’s criticism, citing allegations of a dubious passport contract signed during his tenure at the Department of Immigration and Citizenship Services (Dics). Leader of the House Richard Chimwendo Banda also criticized Mwanamvekha for merely criticizing the budget without offering constructive alternatives.
The House is expected to hear the position of its budget and finance committee on the budget alignment with President Lazarus Chakwera’s State of the Nation Address titled ‘Taking Stock and Advantage of Our Progress in Achieving Economic Recovery and Resilience.’
In conclusion, the debate on the 2024-25 national budget reflects concerns about the government’s economic policies, revenue generation, and allocation of resources. As the country grapples with challenges such as crop failures and unsustainable debt levels, stakeholders are calling for more transparent and effective budget planning to ensure sustainable economic growth and development for the people of Malawi.
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