Malawi: Parliament Approves K2.84 Trillion National Budget

Parliament on Wednesday passed the 2022/23 National Budget pegged at K2.84 trillion as the country continues to face harsh economic challenges and unprecedented rise in cost of living.

Leader of the House, Richard Chimwendo Banda, hailed legislators for being active during committee of supply meetings.

The K2.84 trillion budget has so far attracted mixed reactions from the public.

One of the major highlights during the budget scrutiny was the State House vote which saw over 100 percent increase to over K14 billion in the budget at a time some expenditure lines suffer underfunding.

The budget has K884 billion deficit which will see treasury borrowing K654 billion domestically.

By Nyasa Times.