Finance Minister Felix Mlusu made his debut in Parliament on Wednesday when he presented a four month provisional budget pegged at K722 billion.
The amount will form part of the 2020/21 National Budget to be prepared and presented later within the four month period.
The provisional budget comes following the change of government from Democratic Progressive Party (DPP) to Malawi Congress Party (MCP) led administration of Tonse Alliance.
In the new budget, government has allocated K169.8 billion as development budget of which K119.8 billion will be foreign financed while K50 billion will be financed by domestic borrowing.
The Finance Minister added that government will incentives private sector to create job for the youth.
However, Mlusu underlined that more details will be presented in the full national budget.