Figures from the Reserve Bank of Malawi (RBM) monthly economic review shows that government revenue went down by 5.7% from K119.6 billion in March, to K112.8 billion in April.
While the report has attributed the drop in the collection to a decline in domestic revenue, the Malawi Revenue Authority (MRA) had already stated, in March, that revenue collection is going to be a challenge amid the coronavirus outbreak. MRA Commissioner General Gray Thom Malata said that the pandemic also poses a serious threat on budget implementation during the last half of the financial year.
On the other hand, during the recent presentation of the 2020/21 national budget, the Minister of Finance Joseph Mwanamvekha outlined that revenue collection will continue to fall. The pandemic happened at a time that MRA targeted to collect K1.3 trillion. The sum was revealed during the International Customs day celebrations in Blantyre by MRA Board Chairperson, Rex Harawa, as MRA Head of Corporate Affairs, Steve Kapoloma emphasized that the target will be reached because strategies have been put in place.