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‘There are expenditures that choke our budget’

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Vice President Saulos Chilima has reiterated that there are expenditures that ‘choke’ Malawi’s budget which the country needs to decisively deal with, including the debt situation and earnings.

Chilima said the country had fiscal spaces that are very tight because of statutory obligations.

The Vice President made the remarks Sunday after arriving in the United States (US), where he is on course to participating in the 2022 United Nations (UN) Economic and Social Council (Ecosoc) Forum for Financing Development.

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Delegates to the high level meeting, which will run from April 25 to 28 2022, will discuss issues such as financing for development outcomes and Sustainable Development Goals (SDGs) implementation strategies.

“The meeting will look at how to improve the fiscal space of Least Developed Countries (LCDs) and, in the case of Malawi, the fiscal spaces are very tight because of statutory obligations.

“There are expenditures that choke our budget and we need to decisively deal with such issues that include our debt situation and our earnings,” Chilima posted on his Facebook page.

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Within the week, he is expected to “pick up on” some of the engagements that President Lazarus Chakwera had, including a few bilateral engagement, when he visited the US.

Before his departure, Chilima indicated that his trip was an extension to Chakwera’s trip.

Last month, Chakwera went to the US, where he attended the first part of the Fifth UN Conference on the LDCs.

The Malawi leader had high profile meetings with heads of multinational organisations such as the International Monetary Fund (IMF), United Nations Children’s Emergency Fund and United Nations Development Programme.

On his return back home on March 21 2022, Chakwera said the IMF had been satisfied with Malawi’s commitment towards resolving issues that had prevented the country from having the Extended Credit Facility (ECF) programme with the funder.

He met with IMF Managing Director Kristalina Georgieva, whom, he said, expressed satisfaction with how the country was addressing specific requirements for the resumption of another ECD.

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