It is with this note of caution that the group goes forward, with heightened awareness for cost and expenditure controls to cushion the immediate effects of the recent uncertainties,
12.
When separate finance department was formed to formulate state financial policies, expenditure controls, investment opportunities and controlling fiscal deficits, the tax collection and revenue remained as a separate body itself.
13.
In return for their support, the World Bank and IMF have insisted that the government adopt expenditure controls, major public sector tightening and trade liberalization as well as other sweeping reforms.
14.
The IMF's Camard says that the government is taking numerous policies to improve the situation, noting the National Assembly last October passed a stronger budget with tight expenditure controls and a focus on higher revenue targets.
15.
Economics Association of Malawi notes that although the budget is based on four important cornerstones : " " global economic outlook; MGDS priorities; fiscal discipline with clearly spelt expenditure controls; and budget reform measures of zero-budget, Medium Term Expenditure Framework, and prioritising allocation of resources towards revenue generating areas " it also a calculated financial risk.
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