Tags: Ministry of Finance

Government risks bankruptcy

25% of budget swallowed by public servants Experts have warned government that it risks bankruptcy if it grants civil servants a salary increase as the country’s public sector salaries already consume about 25 percent of the national budget. Economic and human rights observers have described the Malawi national budget as unfairly tilted towards recurrent expenditures—of…

MCTU backs unions on salary rejection

Malawi Congress of Trade Unions (MCTU) has supported civil servants’ rejection of the proposed 24 percent salary increment, saying it is also stunned with the government offer. Minister of Finance, Economic Planning and Development Goodall Gondwe last Tuesday presented the 2014/15 National Budget in Parliament in which he announced the adjustment of civil servants’ wages…

Malawi Govt plans to change financial year

Minister of Finance, Economic Planning and Development Goodall Gondwe says government plans to change the financial year to the months of April and March. Since 2010, the country has been running on national budgets running from July 1 to June 30—a cycle some argue that negatively affects annual procurement of agricultural inputs and government spending…

IMF mission in tomorrow for crucial talks

As anxiety over donor budgetary support freeze continue amid the Cashgate scandal, a team of officials from the International Monetary Fund (IMF) jet into the country tomorrow for talks with government. Ministry of Finance and Economic Planning Spokesperson Nations Msowoya confirmed the development on Wednesday, saying the 10-day mission is crucial to the progress of…

Goodall, Chuka to meet over kwacha

Finance of Minister Goodall Gondwe has said on Friday he would be meeting Reserve Bank of Malawi (RBM) Governor Charles Chuka over the exchange rate movement. Gondwe disclosed this in an exclusive interview in Lilongwe last Friday at Capital Hill when asked to provide his opinion on the recent continued appreciation of the kwacha-notably against…

Goodall pledges economic stability

Newly-appointed Finance Minister Goodall Gondwe has described the state of the economy as ‘depressed’ saying there is little economic activity taking place. But Gondwe, now doubling also as the Economic Planning Minister, has vowed to bring about the much-needed macroeconomic stability by lowering down both interest and inflation rates as well as maintain enough foreign…

Goodall outlines cashgate harm, productive sectors suffered

President Peter Mutharika’s lone Cabinet minister Goodall Gondwe has decried the plunder of public resources at Capital Hill, commonly known as Cashgate, saying the scandal has done Malawi much harm both domestically and internationally. Speaking in an exclusive interview, Gondwe, who was appointed Minister of Finance and Economic Planning and Development on June 6 2014,…

Treasury upbeat on aid resumption

Malawi Government is still engaging the Common Approach to Budget Support (Cabs) donors and has expressed optimism that they would resume budget support for the 2014/15 fiscal plan. The donors have since November last year been withholding budgetary support amounting to $150 million after revelations of looting of public funds dubbed Cashgate under the People’s Party (PP)-led…

Dausi appointed intelligence bureau chief

Days after appointing Goodall Gondwe as Minister of Finance and Economic Planning and Development, President Peter Mutharika on Sunday made three more appointments. According to a statement issued by Chief Secretary to Government, Hawa Ndilowe, Mutharika has appointed Democratic Progressive Party (DPP) publicity secretary Nicholas Dausi as National Intelligence Bureau (NIB) director general. The President…

AG on watch in election impasse

Attorney General (AF) Anthony Kamanga has played down effects of the May 20 Tripartite Elections impasse on government operations, but has admitted that his office is on alert looking into the legal implications of having no Cabinet for a long period of time. Currently, Malawi Electoral Commission (MEC) is pondering to seek a waiver from…

Government blames ministries for salary delays

Ministry of Finance has accused the three main ministries of Health, Education and Agriculture of causing delay in payment of salaries for civil servants due to late submission of payment vouchers to the Accountant General’s office. An analysis of the causes of the delay for April salaries made available to The Nation indicates that payment…

Salary delays irk CSTU

A large section of civil servants are yet to receive their salaries two weeks into the new month, a development which has angered the Civil Service Trade Union (CSTU). CSTU secretary general Madalitso Njolomole on Thursday accused government of complacency after the office of the Accountant General admitted that money was only sent to banks…

Government pays less debt interest in Q2

Malawi Government paid K16.2 billion in debt interest in the second quarter (Q2)—October to December—K6.2 billion below the projected amount, with interest on domestic debt having the largest deviation from projection. Second Quarter Performance Report released recently indicates that government budgeted to pay K2 billion interest on foreign debt but only managed to pay about…