Don’t Be Over Ambitious on Revenue Targets-MCCCI Tells Govt
New Finance Minister, Felix Mlusu, has, for the past week, been out and about making fresh pre-budget consultation ahead of a national budget for the new government administration.
As part of their contribution to the process, Malawi Confederation of Chambers of Commerce and Industry (MCCCI) says there are a few actions it expects from the coming national budget.
MCCCI Director of Business Environment and Policy Advocacy, Madalitso Mandiwa Kazembe, says for example that government has to ensure it has in place measures that propel business especially in the present environment with the Covid-19 pandemic which is affecting economies globally.
“In the forthcoming budget, government should not be over-ambitious in setting revenue targets as that would deter economic growth of private sector. Government should also reduce domestic borrowing as that would burden the country’s economy,” said Kazembe.
Treasury Spokesperson, Williams Banda says they have received overwhelming contributions which they will scrutinize beginning next week.
It is interesting that we have received more contributions from as far as the remotest areas one would think. We will then scrutinize whatever we have received and if necessary we will consider them in the budget which will be presented in parliament on a date to be communicated” said Banda.
Members of parliament have to meet for budget deliberations before October 31 which marks the end of the 722 billion kwacha provisional budget that was passed on June 30.
The fresh national budget was necessitated by the ushering in of a new administration following the ouster of President Peter Mutharika after the June 23 fresh presidential election.
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