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Malawian Minister of Finance and Economic Affairs Sosten Gwengwe has unveiled a 3.87 trillion Malawian Kwacha (about 3.78 billion U.S. dollars) national budget for the 2023/24 Fiscal Year.
The minister has pegged recurrent expenditure at 2.98 trillion Malawian Kwacha and development expenditure at 896 billion Malawian Kwacha.
He also announced an eight percent increase in civil servants’ salaries and an introduction of transport allowance to civil servants.
Gwengwe said Thursday the government is engaging donors for possible budgetary support, adding that the World Bank has committed 160 million U.S. dollars for budgetary support.
According to the minister, nearly 44 million U.S. dollars have been committed to preparations for the 2025 general elections. Enditem
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