Treasury consolidating 2020/21 National Budget

Ministry of Finance Tuesday said it is consolidating and analysing submissions from stakeholders as part of the formulation process of full 2020/2021 National Budget.

Treasury spokesperson, Williams Banda, said there over 200 submissions including those submitted during previous consultations.

Minister of Finance, Felix Mlusu, called for the fresh submissions last month.

Banda said the Treasury would then consult different stakeholders including Parliament’s Public Accounts Committee before coming up with a final budget.

“Once all that is done, we may take several weeks for us to finalise the process, considering the Covid-19 pandemic. We have all the input,” he said

Economic Association of Malawi (Ecama) has since advised the government to put in place measures that will facilitate continuation of business in the next budget.

Ecama president, Lauryn Nyasulu, said the government must also thrive to tame excess borrowing going forward.

“It is important to ensure that businesses continue to operate. Although industries have been hit, but the government needs to put in place measures that will facilitate continuation of business,” she said

In June Parliament passed the K722.4 billion provisional four-month budget.