The Economics Association of Malawi (Ecama) has called upon government to strengthen revenue generation measures in order to achieve aspirations of the K2.84 trillion national budget.

According to Ecama Executive Director Frank Chikuta, Malawi is capable of generating revenue that can fund the budget.

Presenting the 2022-2023 the budget statement at Parliament Building in Lilongwe on Friday, Minister of Finance and Economic Affairs Sosten Gwengwe said tax r94.8evenues are projected at K1.044 trillion or  percent of total domestic revenue while other revenues are estimated to end the fiscal year at K56.9 billion representing 5.2 percent of total domestic revenues.

Chikuta said much as the development budget is low, there is need to exercise prudent financial management.

“Yes, Malawi can use that amount for budget if the tax administration was enhanced and recently the government launched the Domestic Resources Mobilisation Strategy (DRMS),” Chikuta said.

The points which are in that Strategy if were to be implemented in full we could be able to raise that type of finance,” expressed optimism Chikuta.

In addition, Gwengwe said the Reserve Bank of Malawi (RBM) in collaboration with the Malawi Revenue Authority (MRA) and other stakeholders will intensify tracking of export proceeds to ensure that they are accounted for.

The finance minister said total revenues and grants for the 2022/2023 fiscal year are estimated at K1.956 trillion representing 17.2 percent of Gross Domestic Product (GDP).

He added that domestic revenues are estimated at K1.636 trillion, of which tax revenues are estimated at K1.528 trillion while other revenues have been estimated at K107.8 billion in