Mr. Patrick Liphava, Chief Debt and Aid Management Officer and INFF Focal Point, Ministry of Finance and Economic Affairs shared Malawi’s experience during the two-day regional workshop on ‘Public Finance for Sustainable Development in Africa’ held on 12-13 June 2024, Addis Ababa, Ethiopia.
In this video interview, Mr. Liphava outlined the country's ongoing efforts to navigate budgetary challenges and economic shocks while striving to achieve Sustainable Development Goals (SDGs). Malawi faces fiscal space problems and shortfalls in financing, compounded by recent disasters like cyclones and pandemics that have diverted resources from key projects to disaster recovery. Despite these hurdles, Malawi remains dedicated to its National Development Plan and the Malawi 2063 vision.
Mr. Liphava highlighted how Malawi is leveraging its Integrated National Financing Framework (INFF) to consolidate revenue sources from public and private sectors, both domestic and international. Key initiatives include reviewing the aid coordination policy to better engage development partners and ensure resource alignment with SDGs, and improving domestic resource mobilization by digitizing the tax administration system to minimize leakages and enhance the country's resource base.
In Malawi, fiscal consolidation is being pursued to manage costs effectively and ensure budget credibility from the aggregated to the local level. This involves strategic planning and policy reviews, aiming to tighten revenue management and support targeted activities. The introduction of the SDG Investor Map is expected to attract international investment, further bolstering the tax base and overall resource base for national development.
Mr. Liphava said that these efforts are geared towards the successful implementation of Malawi's National Development Agenda, with a vision for significant progress by 2063. He emphasized that through strategic initiatives and international collaboration, Malawi is steadily moving towards achieving its development goals despite the challenges faced.