MP Lunguzi faults economic forecasts
Dedza East member of Parliament Juliana Lunguzi (Malawi Congress Party-MCP) has blamed some of the economic challenges facing the country on poor forecasting of macroeconomic statistics, eventually leading to unrealistic growth targets.
are poor projections
In her contribution to President Peter Mutharika’s State Opening Address of the 46th Session of Parliament delivered on November 6 2015, Lunguzi said while low grant inflows and obligated K40 billion payments on security requirements were beyond the President’s control, the country can do much better in terms of domestic revenue collection.
The President, in his address, attributed over-expenditure to revenue under-collection and low grant inflows during the 2014/15 financial year as well as K40 billion payment on security requirements for Malawi Police Service (MPS) and Malawi Defence Force (MDF).
But Lunguzi blamed the challenges on Ministry of Finance for allegedly making poor projections of macroeconomic statistics.
She said the miscalculations have resulted in under-collection of value added tax (VAT) and other taxes by public tax collector, Malawi Revenue Authority (MRA). n
