LILONGWE-(MaraviPost)-The mid-year national budget review by parliament is expected to take place next month.
The 2017/2018 financial blue print review meeting will be happening just at the time when the government is preaching economic improvement news.
Since the budget was passed, the Central Bank has been reducing the policy rate which is the interest commercial banks borrow from them.
Government has been touting the policy rate reduction as a sign of economic stability. The last time the rates were reduced was last month from 18 to 16 percent.
This clearly meant that commercial banks had to reciprocate by reducing their interest rates.
President Peter Mutharika recently also ordered commercial banks to reduce lending rates following the drop in inflation which is currently at 7.1 percent.
Just as the order by the Malawi leader was meant to see a positive reaction from the commercial banks, it is however proving not to be the case as some business operators are saying.
Former president of the Malawi Confederation of Chambers of Commerce and Industry and Industry who is Managing Director of Mkaka Construction Newton Kambala says there are still challenges in accessing loans in commercial banks.
Secretary to the Treasury Ben Botolo says currently the government is working on reviewing the budget before it goes into parliament for midyear deliberations.
Inflation is said to have dropped to a single digit at the moment although the public have been expressing reservations of not seeing the reflection of the said developments.
Continued rise of price of commodities and goods has been one of the concerns from the general public.
Government is yet to announce as to when parliament will start meeting for the budget review in the coming month.
