Goodall Gondwe speaks on government spending ahead of polls

Post was last updated: February 1, 2019

By Chimwemwe Mangazi:


Finance, Economic Planning and Development Minister, Goodall Gondwe, has ruled out the possibility of the government overspending ahead of the May 21 Tripartite Elections.

Gondwe said in an interview that treasury would stick to the 2018/19 budget framework.

This comes as reports suggest that some government departments and agencies have almost exhausted their annual allocation, only about half way through this financial year.

“I had a meeting today and, when you look at the figures, most of the expenditures, particularly the Police and the Army, have spent on what is required to be used next quarter, during the election time, and therefore it means that, in the second half, we will be spending much less,” Gondwe said.

He further said International Monetary Fund was informed of the development, saying the expenditure is still in line with Extended Facility Programme conditions.

The Monthly Vote-Wise Expenditure report for November 2018 released by the Ministry of Finance indicated that, in this financial year, the State House has spent K5.6 billion.

Let us know what you think of this update and remember to add us on our facebook and follow us on our twitter. Make sure to come back daily for more Malawi business news updates.

Quick Links: Malawi Banking News | Malawi Technology News | Download Business eBooks | Ten Signs You Are An Entrepreneur | What is a Managing Director?

Today’s top business story: Top Commercial Banks In Malawi

Source link