* The preliminary framework is designed to enhance fiscal consolidation while positively supporting the financial sector
* My Ministry is still in discussions with the IMF regarding the possibility of disbursing resources through the Extended Credit Facility (ECF)
* Government plans to implement the upcoming budget using revenue generated from taxes and other sources, rather than rely on borrowing
By Sheminah Nkhoma, Gift Chiponde & Yewo Munthali, MANA
Minister of Finance & Economic Planning, Simplex Chithyola Banda assures the nation that the Government has laid out a framework for the 2025/26 budget “that aims to drive the economy towards stability”.
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He made the remarks during the opening of the 2025-2026 Pre-Budget consultation meetings, whose first was held at the Bingu International Convention Centre in Lilongwe yesterday, saying: “The preliminary framework is designed to enhance fiscal consolidation while positively supporting the financial sector.
“My Ministry is still in discussions with the International Monetary Fund (IMF) regarding the possibility of disbursing resources through the Extended Credit Facility (ECF),” Chithyola said.
He highlighted that Government plans to implement the upcoming budget using revenue generated from taxes and other sources, rather than rely on borrowing.
He described the 2025-2026 Pre-Budget consultation meetings as crucial for fostering economic stability and growth — emphasising that given the current economic climate, “it is essential for Malawians to collaborate in identifying key areas for the budget to focus on, to promote sustainable economic growth and resilience for the betterment of the people”.
He noted that the past year has seen both notable progress and significant challenges, saying domestically, the country has worked tirelessly to stabilise inflation, strengthen its currency, and improve public service delivery.
“However, we continue to face persistent economic hurdles. Globally, the world is navigating the adverse impacts of geopolitical tensions, fluctuating commodity prices, and the negative effects of climate change.”
He added that such consultative meetings will provide a platform for all stakeholders, including the business community, non-governmental organisations, faith-based organisations, youth representatives, academia, and the general public, to present their views and proposals on the 2025/26 National Budget.
The Ministry’s Principal Secretary-Administration, Heatherwick Njati encouraged the participants to constructively contribute to the consultation process, saying: “The budget can only produce the desired and needed results if we get our national priorities right and identify clear and impactful attainable goals on the onset.
“The budget can only produce results if it is prepared and implemented collaboratively.”
The high level Pre-Budget meetings extends to Mzuzu today, January 14, and Blantyre on Friday, January 17.—Edited by Duncan Mlanjira, Maravi Express
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