Africa-Press – Malawi. Minister of Finance Sosten Gwengwe on Thursday, March 2, 2023 presented says the 2023-2024 national budget pegged at MK3.87 trillion. Gwengwe stated that President Lazarus Chakwera’s Tonse government will collect MK2.24 trillion through domestic revenue.
The Finance Minister disclosed that salaries and wages in the budget hover around MK897 billion representing 23.2% of the total expenditure. He says civil servants’ salaries have also been raised by 8%, while honorarium for chiefs in the country has been doubled.
However, 8% salary increase is a joke considering 25% devaluation haunting Malawians who are struggling with high cost of living. Gwengwe has also announced introduction of transport allowance to all civil servants.
Agriculture which is the backbone of the country’s economy has been allocated MK455 billion which will cater for wages and salaries. The flagship Affordable Input Program (AIP) is back again this year and has been allocated MK117 billion.
He says despite irregularities that marred this year’s initiative proper reforms will be implemented inorder to achieve its targets. Gwengwe added that government has allocated resources towards the setting up of a mineral laboratory in the country so that majority of mineral testing should be done in the country rather than outside.
This is inline with government’s plans to grow the mining sector in the country. But he did not disclose how much has been allocated. Meanwhile Education sector has yet again gotten the lion’s share of the 2023-24 national budget with MK603 billion allocated to the sector Health sector is third on on sectors with an allocation of MK330 billion. more to come…..
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