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BUDGET STATEMENT 2013/2014

BUDGET STATEMENT 2013/2014

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Published by Nation Online
BUDGET STATEMENT 2013/2014 Delivered by Finance Minister Dr. Ken Lipenga on 25th May, 2013
BUDGET STATEMENT 2013/2014 Delivered by Finance Minister Dr. Ken Lipenga on 25th May, 2013

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Published by: Nation Online on May 24, 2013
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06/05/2013

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TABLE OF CONTENTS
1.0.MOTION12.0.INTRODUCTION33.0.ACHIEVEMENTS IN THE ECONOMY IN2012/13 FISCAL YEAR84.0.2012/13 BUDGET PERFORMANCE105.0.MGDSII AND THE ECONOMIC RECOVERYPROGRAM (ERP)126.0.ASSUMPTIONS UNDERLYING THE2013/14 BUDGET126.1.Global Economic Outlook136.2.Outlook for Sub-Saharan Africa Region146.3.The Malawi Economy147.0.MAIN FEATURES OF THE 2013/14 BUDGET157.1.Transitional and Recovery Based Budget157.2.Fiscal Policy Anchor: No Net Domestic Financing187.3.Monetary Policy and Financial Sector Development198.0.THE 2013/14 BUDGET FRAMEWORK208.1.Resource Envelope208.2.Total Expenditure and Net Lending218.3.Overall Balance and Financing219.0.THE BUDGET STRUCTURE2210.0.KEY ALLOCATIONS IN THE 2013/14 BUDGET2410.1.Agriculture and Food Security2510.2.Public Works Programme2710.3.School Feeding Program2710.4.Public Financial and Economic ManagementReforms2810.5.Education, Science and Technology3010.6.Public Health, Sanitation, and HIV/AIDSManagement3210.7.Transport and Public Works3311.0.REVENUE POLICY MEASURES FOR THE 2013/14 BUDGET3511.1Preamble3511.2.Tax and Non-Tax Policy3611.3.Non Tax Measures3611.4.Tax Measures3711.5.Customs and Excise Tax Measures3711.6.Income Tax Measures4211.7.Excise Tax Measures45
2013/14 Budget Statement
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TABLE OF CONTENTS CONTINUED
11.8.Value Added Tax Measures4611.9.Administrative Measures4711.10.International and Regional Trade Agreements48
2013/14 Budget Statement
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MOTION
1.Mr. Speaker, Sir, I beg to move that the Estimates onRecurrent and Development Accounts for the 2013/14 Budgetbe referred to the Committee of the Whole House, beconsidered Vote by Vote, and that thereafter, be adopted.
2.0.INTRODUCTION
2.Mr. Speaker, Sir, I am honored to stand here and deliverto this August House the second Budget Statement of thePeople's Party (PP) Administration led by Her Excellency, Dr. Joyce Banda.3.Before I proceed with my statement, allow me to onceagain express my most profound gratitude to the President forentrusting me with the responsibility of leading her economicteam in these trying times. I also wish to offer my deepestappreciation of her leadership and guidance.4.It is because of Her Excellency's guidance that we all cansee the light at the end of the tunnel and have hope for animproved economy.5.Mr. Speaker, Sir, as we have always done, I led theMinistry of Finance in consultations with a wide range of stakeholders across the country in April and May this year, toget an understanding of what Malawians want to see in thisbudget. This budget that I am presenting has benefited greatlyfrom these consultations. Of course, it was not possible to takeon board all the good ideas due to limitations of resources. I would, therefore, like to thank most sincerely all those whocame forward with ideas on how to move the economy forwardand make the budget reflective of the aspirations of our people.6.Mr. Speaker, Sir, the honorable House is well aware of theeconomic challenges that we faced in this country at the time Ipresented last year's statement. We introduced and have beenimplementing a series of tough economic reform measures that were designed to restore macro-economic balance and amarket based economy that would help provide a solidfoundation for sustainable economic growth.
2013/14 Budget Statement1
 
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