Friday, August 19, 2022
  • About Us
  • ImagiNATION
  • Rate Card
  • Contact Us
The Nation Online
Advertisement
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home News National News

Opposition critique 2015/16 budget

by Paida Mpaso
09/06/2015
in National News
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

Opposition members of Parliament (MPs) yesterday took turns to critique the proposed 2015/16 National Budget, saying it is an illegal document because it has not been developed within the framework of the Public Finance Management Act.

Jooma: why is this column hidden?
Jooma: why is this column hidden?

In his reaction after a two-week Parliament recess, Dowa West MP Alexander Dzonzi (Malawi Congress Party-MCP) described the budget as a bankers’ budget, where money has been made a product and not a means to production.

His remarks attracted applause from opposition benches as government MPs booed.

Said Dzonzi: “This is why the minister is more engrossed with macro-economic fundamentals such as interest rates and flexible exchange rates without paying attention to the true needs of the productive sectors such as agriculture or manufacturing.”

He said the prevailing economic fundamentals make it mandatory that Malawi should implement an austerity budget.

Said Dzonzi: “We, therefore, recommend that the minister must go back to the drawing board and sift out all unnecessary expenditures in order to re-align our economic priorities.

“This budget Mr Speaker, Sir, cannot and will not spur economic productivity because it is designed to service debts and not to re-engineer the production sector.”

Mangochi Monkey Bay MP and People’s Party (PP) spokesperson on finance in Parliament, Ralph Jooma said this year’s budget needs to be interrogated on each and every vote because the budget does not indicate how much is being funded to each vote.

Said Jooma: “In the past, we used to have a column for preliminary out turns. I am talking about the time, we, PP were ruling. Why is this column hidden?

“Although it is being highly proclaimed that we have a lot of foreign reserves now, this is not reflected on the ground and the exchange rate is somewhere between K460 and K480 to the dollar.

“So, basically, Mr Speaker, Sir, we think that inflation [rate] will not be as low, exchange rates not as stable, interest rates will remain high and industry capacity utilisation will subdue and therefore hamper economic growth because the economy will not be able to produce the projected goods and services.”

Minister of Finance, Economic Planning and Development Goodall Gondwe said during pre-budget consultations that the budget will be shrunk and will be an intellectual budget that will be difficult to sell to Malawians, including MPs. 

Tags: Alexander DzonziMalawi Congress PartyMembers of ParliamentPeople's PartyRalph Jooma
Previous Post

Endangered species: One by one, thugs killing our cops

Next Post

‘Natural resource abusers enjoying immunity’

Related Posts

Sought court relief: Namalomba
National News

Court reinstates Namalomba in PAC role

August 19, 2022
Front Page

Govt faulted on cholera

August 19, 2022
National News

Court snubs tenants on govt houses

August 18, 2022
Next Post
Chilenga(C) flanked by Chiponda(L)and Kamuyambeni during the briefing

‘Natural resource abusers enjoying immunity’

Opinions and Columns

My Turn

Diagnostic tech cost on patients

August 19, 2022
Business Unpacked

Why public debt should worry every patriotic Malawian

August 18, 2022
Rise and Shine

How to triumph in interviews

August 18, 2022
My Turn

Making briquettes at Malasha

August 15, 2022

Malawi-Music.com Top10

Trending Stories

  • Court snubs tenants on govt houses

    0 shares
    Share 0 Tweet 0
  • ‘Blantyre derby could have fetched more’

    0 shares
    Share 0 Tweet 0
  • Why graft cases stall

    0 shares
    Share 0 Tweet 0
  • World Bank protests K14bn ICT contract

    0 shares
    Share 0 Tweet 0
  • Govt appoints university working committee

    0 shares
    Share 0 Tweet 0

  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2022 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.