Govt projects 3.2% economic growth

On his second day of the pre-budget consultative meetings, Minister of Finance and Economic Planning Simplex Chithyola-Banda projected a 3.2 percent growth rate of the economy in the 2024/25 fiscal year.

“We are confident as a government that we can turn around the economy. First, we need to take bold decisions to protect the economy, then move on the recovery path and in the 2024/25 fiscal year we project a 3.2 percent growth rate of the economy. For this to be realised, there’s a need for deeper collaboration in the spirit of one Malawi and one nation,” said Chithyola-Banda at the Bingu International Convention Centre in Lilongwe.

In his remarks, Secretary to the Treasury, MacDonald Mafuta Mwale, said the meetings are crucial as they solicit viable ideas for the national financial blue print.

 “This is not a routine exercise. Your inputs will be consolidated and considered in the formulation of the National Budget. I should cite a proposal that came from previous consultative meetings that we resuscitate Malawi Development Corporation looking at its enormous contribution to the development of the country. We heard that. Government has recapitalised MDC and soon it will commence its operations,” said Mwale.