President Lazarus Chakwera is scheduled to open the 2024/2025 budget meeting of Parliament in the capital Lilongwe next month.
According to the Speaker of the National Assembly Catherine Gotani Hara, the president will open the session on 9th February 2024 at 10 o’clock in the morning.
According to Gotani Hara, the fourth meeting in the 50th Session or Parliament will run through April 5th.
Currently, the minister of finance Simplex Chithyola Banda is conducting pre-budget consultation meetings with different stakeholders in preparation for 2024/2025 fiscal year.
Speaking today at Bingu International Convention Centre in Lilongwe, Chithyola-Banda said the Malawi economy performed well in 2023 with an estimated Gross Domestic Product [GDP] growth of 1.5 percent as compared to a growth of 0.9 percent registered in 2022.
He added that the ministry expects a gradual economic recovery with a growth of 3.2 percent in 2024 on account of the improvements in the availability of foreign exchange and investments made in the agriculture sector.
“On price developments I acknowledge the continued upward trajectory of prices experienced in 2023, with the end period and annual average inflation rates estimated at 35.7 and 29 percent respectively,” Chithyola-Banda said.
