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IMF PROJECTS 3.3% GROWTH FOR MALAWI IN 2024, FINANCE MINISTER HAILS ECONOMIC TRANSFORMATION

Minister of Finance and Economic Affairs Simplex Chithyola Banda says International Monetary Fund (IMF) announcement that Malawi’s Real Gross Domestic Product growth in 2024 is projected to increase to 3.3 percent from an estimated 1.6 percent last year indicates that the economy of the country will rebound.

Chithyola-Banda said the development signifies positive strides in the government’s economic transformation policies championed 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).

Reported by Arthur Chokhotho.

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