Malawi’s national budget, which is currently under review and awaits cabinet approval, will be aligned with the country\u2019s revenue collected by the Malawi Revenue Authority (MRA).<\/p>\n
The 2015\/16 financial budget was pegged at K930 billion against a projected domestic revenue of K600 billion.<\/p>\n
Minister of Finance Goodall Gondwe tasked MRA to collect K592.4 billion tax revenues in the financial year 2015\/16.<\/p>\n
MRA has however, missed its revenue target for the first quarter of the year as the body only managed to collect K193.58 billion between July and October, 2015.<\/p>\n
MRA also missed its October target by 5 percent as the body only managed to collect K53.03 billion against a target of K55.97 billion.<\/p>\n
Ministry of finance spokesperson Nations Msowoya said the new budget will align planned expenditures wi th projected revenues.<\/p>\n
He said Treasury has been working with ministries and departments to review their work plans to come up with budgets that are in line with anticipated revenues.<\/p>\n
\u201cThe reviewed budget is focusing on generic goods and services and focus [on the review] is on those expenditures that could be postponed to the next fiscal year,\u201d he said.<\/p>\n
Msowoya said the government is implementing a number of reforms aimed at making service delivery more efficient, with value for money for what it does.<\/p>\n
He further said the government is strengthening public finance management systems to check the abuse of public funds.<\/p>\n
\u201cInternal and external controls are being strengthened,\u201d said Msowoya.<\/p>\n","protected":false},"excerpt":{"rendered":"
Malawi’s national budget, which is currently under review and awaits cabinet approval, will be aligned with the country\u2019s revenue collected by the Malawi Revenue Authority (MRA). The 2015\/16 financial budget was pegged at K930 billion against a projected domestic revenue of K600 billion. Minister of Finance Goodall Gondwe tasked MRA to collect K592.4 billion tax […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-14907","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/14907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=14907"}],"version-history":[{"count":0,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/14907\/revisions"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=14907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=14907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=14907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}