By Chisomo Phiri
Minister of Finance, Economic Planning and Decentralisation, Joseph Mwanamvekha, has described the 2025/26 mid-year budget review as a recovery plan aimed at stabilising the economy and accelerating national development.
Addressing the media on Friday at Parliament in Lilongwe, Mwanamveka acknowledged that the budget was prepared during a difficult period marked by what he referred to as underperformance by the previous administration, persistent inflation, and increasing demand for essential public services.
The minister explained that the revised budget will act as a benchmark for evaluating performance across government institutions, helping to identify gaps and improve service delivery.
Drawing from the fiscal challenges observed, Mwanamveka said the government is determined to realign and strengthen underperforming institutions to address economic pressures affecting various sectors.
He noted that the current economic situation is hitting rural communities the hardest.
Mwanamveka pledged that the government will work to revive the economy by curbing unnecessary expenditure and prioritising resources where they are most needed.
He said the mid-year budget review marks an important first step toward restoring economic stability and preventing further hardship among Malawians.
The minister appealed to citizens to appreciate the tough decisions being taken and urged the private sector to support the budget in the spirit of transparency and accountability.
He revealed that approximately K8.59 trillion has been allocated for government operations,an increase from K8.08 trillion in the previous budget.
