By Linda Kwanjana
Minister of Finance Simplex Chithyola Banda on Monday delivered the mid-year Budget review in Parliament as demanded by the Public Finance Management Act .
The Act demands that every fiscal year the Minister of Finance should be giving financial report on how the budget is fairing.
Chithyola said the budget has been revised to conform with directive of the Malawi leader President Dr Lazarus McCarthy Chakwera who during his recent address to the nation demanded that Ministry of Finance should put additional resources to cushion Malawians on the impact of devaluation.
“Madam Speaker, the provision for wages and salaries has been revised upwards by MK80.05 billion from its approved amount of MK900.44 billion to MK980.49 billion. This is a provision to cushion civil servants from the Kwacha realignment as alluded to by His excellency the President during his national address a few days ago,” he said.
On Affordable Inputs Programme (AIP) ,
the Minister announced that the program has been maintained as approved.
“The program has been maintained at its approved level of MK109.82 billion. In an effort to contain expenditure on AIP, we have maintained its provision with a plan to cushion any devaluation effects using beneficially contributions,” he said.