The 2023/2023 pre-budget consultations have been taken to Mzuzu today. The minister of finance and economic affairs Sosten Gwengwe has revealed that the country has spent over six hundred billion kwacha in settling the national debt. According to the minister, there is an imbalance between expenditure and revenue collection. Gwengwe said for example, Malawi Revenue Authority collects about K1.5 trillion in a year, which could only be spent on salaries and debt repayment.
Moses Mkandawire, Director of Nyika Institute proposed a review of the Affordable input Programme (AIP) which he said is adding weight to the public debt.
The pre-budget consultations are aimed at sourcing views from the public on the 2023/2024 budget. The program started on Monday in Blantyre, Wednesday in Lilongwe and today is the last day in Mzuzu