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ITSANANA:Tonse Govt Spends K631.1billion In Three Months


Chakwera: Malawi Leader
It has emerged that Ministry of Finance spent K635.1 billion between July and October 2020 amid less revenue collection of K471.8 billion during the period.
This development left Treasury with the option to borrow K163.3 billion from the expensive domestic market to finance the deficit.
The Nation analysis of the government expenditure shows that between July and October 2020, Capital Hill on average spent K159 billion a month against the average monthly revenue collection of K118 billion.
The development means that within four months, the Tonse administration spent roughly one third or 29 percent of the K2.2 trillion first substantive national budget some economic analysts christened as ambitious soon after Minister of Finance Felix Mlusu had presented it in Parliament on September 11 2020. ....

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