Government is expected to spend about 688 billion Kwacha in the 2013/14 fiscal year.
Finance Minister announced this when he presented the 2013/14 budget at the Parliament building in Lilongwe.
Out of 688 billion Kwacha, 175 billion Kwacha will be spent on development activities.
In the speech that has been described as risky because of an increase in expenditure,Minister of Finance was quick to point out that about 348 billion Kwacha deficit will be financed through foreign borrowing. In this year’s budget speech the Ministry of Education has been given 20 percent of the total budget.
The leader of opposition John Tembo said the speech was creative in the sense that the Minister would like to paint a picture that it is a budget for the people but it did not touch in crucial areas like fertilizer. However the donor community have described the budget as business oriented.
Here is the full 2013/14 budget speech; MINISTERSpeech 2013