Friday, March 1, 2024

IMF Forecasts Promising 3.3% Growth, Signaling Malawi’s Economic Rebound


Minister of Finance and Economic Affairs Simplex Chithyola Banda has remarked that the International Monetary Fund’s (IMF) revelation forecasting a surge in Malawi’s Real Gross Domestic Product (GDP) growth to 3.3 percent in 2024, up from an estimated 1.6 percent the previous year, is indicative of an impending economic recovery. Chithyola-Banda highlighted that this positive outlook reflects the success of the government’s economic transformation initiatives spearheaded by President Dr. Lazarus Chakwera.

“The development will have a trickle-down effect on ordinary Malawians and already government has stabilised the situation as evidenced by the availability of fuel and gradual redress on forex availability,” said Chithyola-Banda.

The IMF staff led by Mika Saito was in the country engaging Malawian authorities and

other stakeholders on recent macroeconomic developments and the implementation of macroeconomic adjustments and reforms committed under the recently approved Extended Credit Facility (ECF).




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