The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) to consider providing targeted monetary and fiscal incentives to sustain the core economic activities in the private sector to ensure household food, nutritional, and income security. Treasury has responded that it does not have the financial capability to provide such.
Ministry of Finance spokesperson Williams Banda spoke to The Nation newspaper, outlining that government revenues have substantially declined due to the pandemic. “It is not easy to offer a stimulus package due to the huge budgeted deficit,” said Banda, “but the government is working with donors to come up with private sector support services.”
MCCCI outlined that the business environment has been subdued following measures instituted to ensure that the pandemic is contained, therefore requesting Treasury to provide a fiscal stimulus package to the private sector.