Budget passed

Parliament on Thursday passed the 2023/24 national budget weeks after the Minister of Finance Sosten Gwengwe tabled it.

The budget is pegged at K3. 79 trillion.

Despite passing the budget, the country still faces food shortages, huge recovery costs in Southern Malawi after being hit by Cyclone Freddy and shortages of Foreign exchange.

The budget is expected to be financed largely by local resources and borrowing.

The budget includes K140 billion  for subsidy programme and other services.

Budget year stars April 1.

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