Written by PIUS NYONDO
MZUZU--Finance Minister Dr. Ken Lipenga Friday described the implementation of the first half of Pres Joyce Banda's maiden budget as "successful".
The success, according to Lipenga, has come forth as a result of the upward revision in the budget on account of the depreciation of the local currency.
He said the devaluation of the kwacha early mid last year "was passed through into higher prices."
Said Lipenga: "These included procurement of drugs and medical supplies; purchases of teaching and learning materials; payment for subscription to international organisations; operations of foreign missions abroad and resources for implementing the Farm Input Subsidy Programme (Fisp)."
The minister's 27-paged 2012/2013 statement showed flaws on government expenditure and net lending.
According to the statement, instead of spending K408 billion (about $1. 13 billion) as earlier planned, government will have to spend K475.8 billion (about $1.32 billion), which is 16 per cent more.
(c) The Maravi Post 2013