MALAWI'S ECONOMY SET FOR 4% GROWTH SPURT

By Michael Martin//MALAWI

Malawi’s economy is poised for a significant boost with projections indicating a 4% growth rate driven by a rebound in agricultural production and improved macroeconomic management.

Speak during the 2025/26 pre budget consultation meeting held on 17th January 2025 at Mount Sochi Hotel in Blantyre, Minister of Finance and Economic Affairs, Simplex Chithyola Banda emphasized that the government has set its sights on crafting a budget that prioritizes growth-focused policies, aiming to drive the country’s economic development.

Banda emphasized that the budget will concentrate on crucial macroeconomic areas such as managing government revenue and expenditure to promote economic stability.

He said: “regulating money supply and interest rates to control inflation and stimulate growth. Government will be ensuring sustainable debt levels to maintain economic stability.”

Chithyola Banda emphasized the importance of stakeholder participation in the budget process, stating that their inputs are critical in shaping the country’s fiscal policies.

He highlighted the government’s commitment to transparency and accountability, ensuring that the budget reflects the needs and aspirations of Malawians.

He also underscored the need for a collaborative approach to address the country’s economic challenges, emphasizing that the government alone cannot achieve sustainable development without the support of stakeholders.

Again, Banda challenged stakeholders to think creatively and propose innovative ideas that will help Malawi overcome its economic challenges. He emphasized that the meeting’s inputs should focus on medium to long-term goals, urging participants to avoid “business as usual” approaches.

In her remarks, Cheif Executive Officer for the Malawi Confederation of Chambers of Commerce and Industry (MCCCI), Daisy Kambalame advocated for the harmonization of charges on tax stamps for various products.

She emphasized the need for policies that promote economic growth, job creation, and investment.

She also called for a reduction in taxes and tariffs to make Malawian businesses more competitive in the regional market.

She emphasized the need for policies that promote economic growth, job creation, and investment.

She also called for a reduction in taxes and tariffs to make Malawian businesses more competitive in the regional market.