Malawi Scraps 1% Withholding Tax on Mobile-Money Transactions - Bloomberg: Malawi abandoned plans to introduce a 1% withholding tax on mobile-money transactions after criticism from the country’s main operator, lawmakers and a consumer-rights organization.
Business and Economic News from Malawi
Showing posts with label Fiscal policy. Show all posts
Showing posts with label Fiscal policy. Show all posts
Tuesday, October 8, 2019
Tuesday, October 1, 2019
Treasury sees fiscal pressure on budget – The Nation Online
Treasury sees fiscal pressure on budget – The Nation Online: Ministry of Finance, Economic Planning and Development says statutory expenditures, especially salary and wages, interest payments and domestic debt, could exert pressure on the 2019/20 National Budget.
The 2019 Economic Fiscal Policy Statement published by Ministry of Finance, Economic Planning and Development says that over the years, statutory expenditures have exerted pressure on the budget, with the growth translating into under-provision for operational expenses for ministries, departments and agencies (MDAs)
The 2019 Economic Fiscal Policy Statement published by Ministry of Finance, Economic Planning and Development says that over the years, statutory expenditures have exerted pressure on the budget, with the growth translating into under-provision for operational expenses for ministries, departments and agencies (MDAs)
Tuesday, September 10, 2019
Malawi: Mwanamvekha Unveils K1.7 Trillion 2019/20 Malawi Budget - Key Points At-a-Glance - allAfrica.com
Malawi: Mwanamvekha Unveils K1.7 Trillion 2019/20 Malawi Budget - Key Points At-a-Glance - allAfrica.com: Joseph Mwanamvekha has delivered his first Budget as Minister of Finance, Economic Planning and Development. The 2019/2020 budget is pegged at K1.7 trillion up from K1.4 trillion in the 2018/2019 budget. These are the key points of what he has said.
Mwanamvekha with the black box in Parliament which has been a common feature on Budget day for decade
Mwanamvekha with the black box in Parliament which has been a common feature on Budget day for decade
Saturday, August 3, 2019
Fiscal consolidation key to recovery—IMF – The Nation Online
Fiscal consolidation key to recovery—IMF – The Nation Online: The International Monetary Fund (IMF) says bringing fiscal consolidation back on credible path focusing on 2019/20 National Budget is key to recovery.
IMF resident representative, Jack Ree, whose tour of Malawi ends this month, said growth, is on a recovery path despite ‘daunting dangers in the ways ahead of Malawi’.
IMF resident representative, Jack Ree, whose tour of Malawi ends this month, said growth, is on a recovery path despite ‘daunting dangers in the ways ahead of Malawi’.
Friday, August 2, 2019
Treasury outlines key budget risks - The Times Group Malawi
Treasury outlines key budget risks - The Times Group Malawi: Finance Minister Joseph Mwanamvekha has outlined key risks facing the 2019/20 National Budget, saying it would require concerted efforts in minimising possible pressure points.
Mwanamvekha was speaking in Blantyre on Friday during the final round of the 2019 to 2020 pre-budget consultation meeting.
In his presentation to stakeholders, Mwanamvekha outlined fiscal pressure, unpredictability of budget support, procurement hurdles and poor public finance management in some District Councils and government departments among challenges facing the budget.
Mwanamvekha was speaking in Blantyre on Friday during the final round of the 2019 to 2020 pre-budget consultation meeting.
In his presentation to stakeholders, Mwanamvekha outlined fiscal pressure, unpredictability of budget support, procurement hurdles and poor public finance management in some District Councils and government departments among challenges facing the budget.
Monday, July 22, 2019
Current account deficit narrows – The Nation Online
Current account deficit narrows – The Nation Online: Malawi’s current account deficit is expected to take a knock from an estimated 18.20 percent of gross domestic product in 2018 to 15.20 percent in 2020, as import growth falters, investment advisory firm Nico Asset Managers has said.
The current account deficit is a measurement of a country’s trade where the value of the goods and services it imports exceeds the value of the products it exports.
The current account deficit is a measurement of a country’s trade where the value of the goods and services it imports exceeds the value of the products it exports.
Tuesday, July 2, 2019
Minister pledges economic stability - The Nation Online
Minister pledges economic stability - The Nation Online: Minister of Finance, Economic Planning and Development Joseph Mwanamvekha says his immediate task will be to sustain the stability of the economy while laying a strong foundation for high economic growth rates.
In an interview on Friday in Lilongwe after presenting the K511.3 billion four-month provisional budget, the minister said under his watch, he envisages lowering interest rates further while also ensuring the creation of jobs, mostly for the youth who are graduating from various colleges.
In an interview on Friday in Lilongwe after presenting the K511.3 billion four-month provisional budget, the minister said under his watch, he envisages lowering interest rates further while also ensuring the creation of jobs, mostly for the youth who are graduating from various colleges.
Tuesday, May 22, 2018
IMF says 2018/19 budget Fair on projections - The Nation Online
IMF says 2018/19 budget Fair on projections - The Nation Online: "YOU ARE HERE: Home → IMF says 2018/19 budget Fair on projections
IMF says 2018/19 budget Fair on projections
Grace Phiri May 21, 2018 0 Comments
The International Monetary Fund (IMF) has rated the realism of the 2018/19 National Budget fairly high for its continuity of programmes and modest revenue assumptions.
In a written response to a questionnaire on Saturday in reaction to the fiscal plan presented by Minister of Finance, Economic Planning and Development Goodall Gondwe in Lilongwe on Friday, IMF resident representative Jack Ree observed that while the budget promises wage increases to civil servants, the increase could have been much higher in the face of the 2019 Tripartite Elections as is the case in many regional peer countries facing elections.
"
'via Blog this'
IMF says 2018/19 budget Fair on projections
Grace Phiri May 21, 2018 0 Comments
The International Monetary Fund (IMF) has rated the realism of the 2018/19 National Budget fairly high for its continuity of programmes and modest revenue assumptions.
In a written response to a questionnaire on Saturday in reaction to the fiscal plan presented by Minister of Finance, Economic Planning and Development Goodall Gondwe in Lilongwe on Friday, IMF resident representative Jack Ree observed that while the budget promises wage increases to civil servants, the increase could have been much higher in the face of the 2019 Tripartite Elections as is the case in many regional peer countries facing elections.
"
'via Blog this'
Thursday, May 17, 2018
IMF expects 2018 budget to mirror ECF programme | The Times Group
IMF expects 2018 budget to mirror ECF programme | The Times Group: "MF expects 2018 budget to mirror ECF programme
Posted By: William Kumwembeon: May 17, 2018In: BusinessNo Comments
The International Monetary Fund (IMF) has said it expects the 2018/19 national budget to be consistent with the new Extended Credit Facility (ECF) programme.
Finance Minister, Goodall Gondwe, is tomorrow expected to get down on his knees and ask impoverished Malawians to allow him use trillions of their hard-earned taxes between July 2018 and June 2019.
Late last month, the IMF approved another three-year ECF programme for Malawi valued at $112.3 million which aims to entrench macroeconomic stability and foster higher, more inclusive and resilient growth.
IMF Malawi Resident Representative, Jack Ree, said in an interview that the fund expects Lilongwe to deploy strong remedial measures to address the widening budget deficit."
'via Blog this'
Posted By: William Kumwembeon: May 17, 2018In: BusinessNo Comments
The International Monetary Fund (IMF) has said it expects the 2018/19 national budget to be consistent with the new Extended Credit Facility (ECF) programme.
Finance Minister, Goodall Gondwe, is tomorrow expected to get down on his knees and ask impoverished Malawians to allow him use trillions of their hard-earned taxes between July 2018 and June 2019.
Late last month, the IMF approved another three-year ECF programme for Malawi valued at $112.3 million which aims to entrench macroeconomic stability and foster higher, more inclusive and resilient growth.
IMF Malawi Resident Representative, Jack Ree, said in an interview that the fund expects Lilongwe to deploy strong remedial measures to address the widening budget deficit."
'via Blog this'
Thursday, January 25, 2018
Mid-year budget review starts Feb 5 | Malawi 24 - All the latest Malawi news
Mid-year budget review starts Feb 5 | Malawi 24 - All the latest Malawi news:
BY MALAW124 REPORTER ON JAN 25, 2018
Members of Parliament will meet for the Mid-year Budget Review starting on February 5.
According to a statement on Malawi Government Facebook page, the meeting will give parliamentarians an opportunity to review the mid-year performance of the approved 2017/18 financial year budget and debate and adopt changes.
'via Blog this'
BY MALAW124 REPORTER ON JAN 25, 2018
Members of Parliament will meet for the Mid-year Budget Review starting on February 5.
According to a statement on Malawi Government Facebook page, the meeting will give parliamentarians an opportunity to review the mid-year performance of the approved 2017/18 financial year budget and debate and adopt changes.
'via Blog this'
Wednesday, January 11, 2017
Malawi Revenue Authority beating targets | The Times Group
Malawi Revenue Authority beating targets | The Times Group: "Revenue collection is still continuing a positive trajectory with the Malawi Revenue Authority (MRA) beating its collection target for December 2016 by about K6.1 billion.
Cumulatively, MRA has been able to collect K377.08 billion in the first half of the 2016/17 fiscal year against a target of K339.15 billion. This translates to an excess of K37.93 billion.
MRA has attributed the good performance to strong performances in tax lines including, Pay as You Earn (Paye), Fringe Benefit Tax, Provisional Tax, Import Duty, VAT and Excise Duties."
'via Blog this'
Cumulatively, MRA has been able to collect K377.08 billion in the first half of the 2016/17 fiscal year against a target of K339.15 billion. This translates to an excess of K37.93 billion.
MRA has attributed the good performance to strong performances in tax lines including, Pay as You Earn (Paye), Fringe Benefit Tax, Provisional Tax, Import Duty, VAT and Excise Duties."
'via Blog this'
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