Rédaction Africa Links 24 with Times News
Published on 2024-03-27 08:26:23
The budget approval process in Malawi was a significant event that took place amidst cloudy weather in Lilongwe. Despite the weather conditions, the Deputy Speaker of Parliament, Madalitso Kazombo, skillfully navigated the proceedings and successfully secured the approval of the 2024-25 national budget. The budget, totaling K5.98 trillion, underwent thorough scrutiny by Members of Parliament (MPs) during the Committee of Supply session that spanned from Monday to Tuesday.
Kazombo’s pivotal question to the MPs, seeking their approval for the budget allocation, was met with resounding agreement as they unanimously supported the proposal. The atmosphere in Parliament was jubilant, especially among government MPs who celebrated the successful passing of the budget. Notable allocations in the budget included a doubled Constituency Development Fund allocation of K200 million and a significant share of K729.47 billion for the Ministry of Health.
The agriculture sector received substantial funding amounting to K497.75 billion, with specific allocations for programs like the Affordable Inputs Programme and support for the National Food Reserve Agency. Additionally, the transport and information communication technology sector received K439.64 billion in the budget. However, the budget also revealed a deficit of K1.4 trillion, prompting Finance Minister Simplex Chithyola Banda to propose covering it through borrowing.
Following the swift approval of the budget, Chithyola Banda commended the lawmakers for their efficient decision-making process. He expressed optimism in the Malawi Revenue Authority’s ability to meet revenue targets and bridge the funding deficit. The budget set a revenue collection target of K3.26 trillion for the MRA and addressed concerns about delays in disbursing funds to government ministries.
Opposition Democratic Progressive Party leader in Parliament, Mary Navicha, acknowledged the opposition’s role in scrutinizing the budget and emphasized the importance of effective budget implementation to address the challenges facing Malawians. European Union Ambassador to Malawi, Rune Skinnebach, highlighted the significance of the budget in meeting the country’s developmental goals and aspirations if well-implemented. Despite potential challenges and political pressures, Skinnebach expressed confidence in Malawi’s ability to execute the budget effectively.
In conclusion, the approval of the 2024-25 national budget in Malawi marked a crucial step towards addressing the country’s developmental needs and providing essential services to its citizens. The budget allocations reflect a strategic focus on key sectors such as health, agriculture, and infrastructure, with a strong emphasis on revenue mobilization to bridge funding gaps and support sustainable development initiatives.
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