Consider priority areas first in budget – ECAMA

Stakeholders in the financial sector have advised government to consider priority areas in drafting the 2019/20 national budget.

The plea has been made in Lilongwe during the first Pre-Budget Consultation Meeting for the 2019/20 fiscal year.

Economics Association of Malawi (ECAMA) president Chiku Kalilombe told YFM in an interview that government must prioritize the country`s economy by maintaining the monetary stability and focusing on economic growth.

“Key areas are maintaining the macroeconomic and then focusing on growth, and one of the biggest priorities that we think should be done soonest is prioritising energy because that is the biggest constraint that we have as an economy to grow,” said Kalilombe.

Concurring with Kalilombe, the Minister responsible for Finance, Economic Planning and Development Joseph Mwanamvekha said government is committed in ensuring that key aspects of the economy have much required attention.

“We need to reprioritize our budget, we should make sure that we allocate the resources to where we can get much benefit,” underscored Mwanamvekha.

The Pre-Budget Consultation Meetings are set to continue on Wednesday in Mzuzu and conclusions will be made in Blantyre this coming Friday where stakeholders will also discuss pertinent issues relating to the amount of money that will be allocated in the 2019/2020 Financial Year Budget.

The Finance Minister has said government is still welcoming all suggestions from Malawians that can be considered as relevant to the Budget.

“For those that have no opportunity to come to these forums, they are free to come to our offices, they are free to write to us in paper their suggestions, because this budget is for Malawians,” Mwanamvekha said.

Apart from ECAMA, the Lilongwe University of Agriculture and Natural Resources (LUANAR), the Malawi Economic Justice Network (MEJN) and the Civil Society Agriculture Network (CISANET) also presented their suggestions on the budget.

Leave a Reply

Your email address will not be published. Required fields are marked *