Minister Asks Economists to Improve Economy

Minister of Finance, Economic Planning and Development Goodall Gondwe has called on economists to find best ways of boosting economy in the country.

Gondwe was speaking in Mangochi during official opening of Reserve Bank of Malawi Monetary Policy Conference.

The minister said the conference is very important as they expect the delegates to share ideas on how Malawi can improve the economy and decrease poverty levels.

Speaking to journalists Gondwe said it is very worrisome that Malawi is one of the least developing countries in the world though it has resources.

He said “in two years time the country will increase developmental investments in order to boost economy.”

Meanwhile, Gondwe has said Malawi can have another deficit as World Bank is not supporting the budget hence losing over 60 billion kwacha.

President of Economics Association of Malawi ECAMA Chikumbutso Kalilombe said Malawi should accept the challenge of poor economic growth and find measures to deal with it.

“Malawi is losing a lot of developmental investments that could help poor Malawians,” said Kalilombe

Commenting, president of Bankers Association of Malawi Paul Guta said there is need for the country to do right things which can increase the growth of the economy.

He said Malawi needs to pay back borrowed money in time for the country to develop.

Guta further said excessive borrowing of money increases government pressure to pay back the loans.

He expressed that parliament should discuss how the country can improve economy and cut government spending.

Governor of Reserve Bank of Malawi Dalitso Kabambe said experts from various circles including the academia, researchers, IMF, World Bank, National Assembly and neighboring Central Banks converged to deliberate best practices and share experiences on how best to improve economy.