Tags: Goodall Gondwe

Mid-year budget  Under scrutiny

  Minister of Finance, Economic Planning and Development Goodall Gondwe’s proposed revised national budget yesterday faced scrutiny from opposition political parties in Parliament which advanced solutions to the ailing economy. Specifically, People’s Party (PP), the former governing party between April 2012 and May 2014, described Gondwe’s proposed revision of the budget from K929 billion to…

Goodall silent on drug shortages

  Minister of Finance, Economic Planning and Development Goodall Gondwe yesterday omitted to explain how government would deal with the drug crisis that has paralysed the country. Minister of Health Peter Kumpalume this week said in a statement in Parliament that public hospitals have nearly exhausted most of their drug budgets, a move that could…

Budget cut from K930bn to K906bn

  Finance, Economic Planning and Development Minister Goodall Gondwe proposes to cut K23.7 billion from the 2015/16 National Budget amid falling revenue trends. Of the reduction, K17.1 billion is from the recurrent budget while the development account has lost K5.6 billion. If Parliament supports the plan contained in the Mid Year Budget Review Statement that…

‘Zero-aid’ ghosts haunting budget

  As Finance, Economic Planning and Development Minister Goodall Gondwe presents the Mid-Year Budget Review Statement in Parliament today, he faces two major questions that are vexing, but which can determine the country’s economic trajectory. The first is whether, in the face of donors abandoning general budgetary support (GBS) aid modality, the budget can effectively…

Local diplomatic staff to pay taxes by 2017

  Malawians working in embassies and international bodies with diplomatic privileges based in the country will, by 2017, start paying taxes if plans by the Ministry of Finance, Economic Planning and Development are followed through. Amid decreasing levels of direct foreign aid, Finance Minister Goodall Gondwe, who already revealed plans to introduce new taxes in…

Report paints gloomy picture for APM in 2016

  President Peter Mutharika is in for a tough ride in 2016 with economic hardships likely to cause instability for his ruling Democratic Progressive Party (DPP), projections by the Economic Intelligence Unit 2016 Country Report have suggested. The London-based acclaimed think-tank’s report on the economy, contradicts the stance by Finance, Economic Planning and Development Minister…

Economy could stabilse by may-Goodall

  Finance, Economic Planning and Development Minister Goodall Gondwe on Tuesday sounded upbeat on the future of the struggling economy, projecting that the economy could stabilise somewhere in May this year but depending on the weather pattern and climatic conditions. “We expect light at the end of the tunnel which means stabilisation of the economy.…

Goodall dares private sector

  Minister of Finance, Economic Planning and Development Goodall Gondwe has challenged the private sector to take a leading role in bringing positive change that would transform the country’s ailing economy. Gondwe, who on Tuesday graced the launch of Malawi Business Climate Survey Report 2015, a flagship publication of Malawi Confederation of Chambers of Commerce…

APM signs K215bn HIV/Aids grant

  President Peter Mutharika on Wednesday put pen to paper on a $378 million (K215 billion) grant from the Global Fund to accelerate the fight against HIV and Aids, malaria and tuberculosis in Malawi. About 80 percent of the funds will be used to procure anti-retroviral drugs administered by the Ministry of Health while the…

Goodall outlines recovery measures

Finance, Economic Planning and Development Minister Goodall Gondwe said on Tuesday government has taken steps aimed at “jump-starting” the Malawi economy which he admitted is not on track. Gondwe cited recent measures by Reserve Bank of Malawi (RBM) on the foreign exchange market as one of the steps that government has undertaken to help halt…

PRESIDENCY IN 61% PERKS HIKE

Seven months after President Peter Mutharika rejected a salary increment for himself, Vice-President and Cabinet ministers; government has raised the presidency’s perks by 61 percent. Government has also made members of Parliament (MPs) happy with a similar increase in daily subsistence allowances (DSAs). Civil servants too have not been left out of the per diem party that Capital Hill…

OIL SEARCH SAGA

Government is set to cancel, then, renegotiate production sharing agreements (PSAs) with companies licensed to explore oil and gas in Malawi, Nation on Sunday has learnt. This could end nine months of uncertainty as Capital Hill dithered on a decision that halted oil and gas exploration activities at a time the country is desperate to…

Donors yet to trust govt financial system

Head of Britain’s Department for International Development (DfID), Jen Marshall, yesterday defended the recent increase in off-budget support by Malawi’s development partners in the 2015/16 National Budget rolled out on July 1. Marshall, speaking during the High-level Forum on Development Effectiveness in Lilongwe, said there is still a lack of trust in government financial systems…

MPINGANJIRA OUTLINES MSB TAKEOVER PLAN

FDH Financial Holdings Limited, new majority shareholder in the previously wholly State-owned Malawi Savings Bank (MSB), says it will not rush to take over the operations of MSB as it awaits regulatory approvals from the Reserve Bank of Malawi (RBM). In an interview last evening, FDH Financial Holdings Limited chief executive officer Thomson Mpinganjira said…