{"id":39552,"date":"2023-01-28T22:32:44","date_gmt":"2023-01-28T22:32:44","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/national-budget-shoots-by-k10bn"},"modified":"2023-01-28T23:01:23","modified_gmt":"2023-01-28T23:01:23","slug":"national-budget-shoots-by-k10bn","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/national-budget-shoots-by-k10bn","title":{"rendered":"National budget shoots by K10bn"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>This year\u2019s national budget has gone up by K10 billion from the initial K2.84 trillion to K2.85 trillion, Finance minister Sosten Gwengwe has told Parliament.<\/p>\n

Presenting the mid-year review budget on Friday in the 193 strong House, Gwengwe said there are several adjustments made to contain shocks that are there including local currency devaluation and rising cost of living.<\/p>\n

He said the AIP budget has been maintained at K109 billion. He said the budget for maize purchase has been increased from K12 billion to K12.6 billion. Gwengwe said Malawi\u2019s public debt now stands at K7.3 trillion as at September from K6.8 trillion.<\/p>\n

According to Gwengwe, Malawi\u2019s debt has risen exponentially since debt relief in 2006, partly because authorities used to borrow a lot on the foreign front, to use the money from the loans to keep the exchange rate afloat. He said the budget deficit is projected to increase from around K800 billion proposed in February to between K900 billion and K1 trillion.<\/p>\n

Gwengwe said government is working with Greenbelt Authority, Malawi Defence Force, Malawi Prisons and the private sector, including Press Agriculture to rollout megafarms starting this year, in order to boost production of crops for exports.<\/p>\n

He said the government has lifted the ban on lakeshore conferences for civil servants to boost the local tourism industry. The finance minister says government has cut GDP growth prospects for 2022 from 4.1 percent to 1.7 percent due to, among other things, outage of Kapichira power station, which hurt manufacturing.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. This year\u2019s national budget has gone up by K10 billion from the initial K2.84 trillion to K2.85 trillion, Finance minister Sosten Gwengwe has told Parliament. Presenting the mid-year review budget on Friday in the 193 strong House, Gwengwe said there are several adjustments made to contain shocks that are there including local […]<\/p>\n","protected":false},"author":84,"featured_media":39550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[233,371,234],"class_list":["post-39552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nNational budget shoots by K10bn - Malawi<\/title>\n<meta name=\"description\" content=\"This year\u2019s national budget has gone up by K10 billion from the initial K2.84 trillion to K2.85 trillion, Finance minist ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/national-budget-shoots-by-k10bn\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National budget shoots by K10bn\" \/>\n<meta property=\"og:description\" content=\"This year\u2019s national budget has gone up by K10 billion from the initial K2.84 trillion to K2.85 trillion, Finance minist ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/national-budget-shoots-by-k10bn\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-28T22:32:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-28T23:01:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2023\/01\/postQueueImg_1674932574.18.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"771\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/national-budget-shoots-by-k10bn#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/national-budget-shoots-by-k10bn\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"National budget shoots by K10bn\",\"datePublished\":\"2023-01-28T22:32:44+00:00\",\"dateModified\":\"2023-01-28T23:01:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/national-budget-shoots-by-k10bn\"},\"wordCount\":265,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/national-budget-shoots-by-k10bn#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2023\/01\/postQueueImg_1674932574.18.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/national-budget-shoots-by-k10bn#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/national-budget-shoots-by-k10bn\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/national-budget-shoots-by-k10bn\",\"name\":\"National budget shoots by K10bn - 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