During the signing ceremony of the five-year 22 million euros (about K17. 9 billion) Chuma Cha Dziko Public Finance Management Support Program, the European Union (EU) advised Treasury to seal leaks in public finance management system to stop wastage of taxpayers’ money that is denying the citizenry deserved development and economic growth.

EU Ambassador Sandra Paesen there is a need to move away from the reform on paper to reform in processes in behaviour and performance. Paesen said the financial support focuses more on human change aspect and on the underlying political economy.

In March, the International Monetary Fund (IMF) noted that Malawi has plans for infrastructure projects that seek to support sustainable growth and poverty reduction, to which the IMF has advised fiscal authorities to strengthen public investment management through rigorous prioritisation of projects and improved project management framework. The tip comes as the African Development Bank (AfDB) reported that Malawi has a weak public investment management, especially in parastatals, which hinders economic development.