MCP cast doubt Malawi economy to rebound May

Malawi Congress Party (MCP) spokesperson on finance Alexander Dzonzi has cast doubt over finance minister Goodall Gondwe prediction that the economy would rebound in May.

Flashback: Gondwe greets opposiiton leader Lazarous Chakwera (L) in parliament

Flashback: Gondwe greets opposiiton leader Lazarous Chakwera (L) in parliament

Dzonzi said in a radio interview that it was wrong for Gondwe to base his facts on the unpredictable rainfall.

Gondwe had earlier said he was upbeat the economy would rebound this May after Malawi qualifies for the International Monetary Fund extended credit facility and also on anticipation of good rains.

However Dzonzi, the MCP shadow minister of finance said the outlook is still hazy.

“You cannot base your assessment on rains because rains are unpredictable,” said Dzonzi.

Gondwe’s comment come on the heels of messy farm in put programme marred by high corruption rate, failure by suppliers to provide fertilizer to farmers on time, government decision to leave the vulnerable on the list of beneficiaries and failure by government to pay suppliers on time which commentators say will have a negative impact on this year’s harvest.

In addition, Oxfarm and UNICEF have predicted prolonged dry spell in some parts of the country and devastating floods in other parts.

Economics professor at Chancellor College Ben Kalua doubted if Malawi will qualify for the IMF extended credit facility because of government’s high borrowing and high inflation among other factors.

Ephraim Munthali, an economist and journalist told a radio station recently that even if Malawi qualifies for the IMF facility, not all donors would return to help Malawi.

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14 thoughts on “MCP cast doubt Malawi economy to rebound May”

  1. tchwe mwana tchwe says:

    in other developed countries, if things are not working as expected, the minister of particular dimension is questioned then reshaffled to pave way for other successiful peoe to try their best to come up with postive change. The problem is that our president is very impassive and is always expecting his ministers to tell him what to do instead of being him to address successive administrative descions.

  2. paul says:

    Wa bodza Goodall, Kapena pa May akhale bwino tipanga survive bwanji mpakana May chifukwa zinthu ayamba nku kwera daily, economic destroyers

  3. patrick says:

    APM, please show some action you have a lot of people who are not performing why are they not being fired

    1. Escom CEO, blackouts

    2. Chuka he performed miserably during PP regime and also during your tenor, why is still there inflation has not come down during that times rains were good. kwacha is like a boxing bag it gets hit everyday by the dollar, please get rid of him and spare malawians the misery as we are sick and tired of him. He is clueless

    3. The hospital directors why are there not enogh medicines, fuel for patients.

    Very soon if you dont fire then people will say DPP is not performing, so show some action please

  4. FBI geniune says:

    Anthu abodza awa .angokula mutu koma nzeru mulibiletu.akalamba awa.akapume basi kwawo ku enukweni.

  5. Hehehede says:

    Why not try Collins Magalasi

  6. ben phiri says:

    Onama awa angawakhulupirire ndani ali ngati ESKOM

  7. Juma Mike says:

    Gondwa usamize anthu,iweyo ndi Bwampini ndinu anthu abodza wokha wokha

  8. Rejoice banda says:

    I dont if that old malawi will come again,coz the government is still havng old people instead of recruiting young stars,mmmmh na this country!

  9. Kenkkk says:

    Gondwe is hoping donors will be back with budgetary support by May or Malawi will receive international credit facilities by then. He will be very stupid to predict that the economy will improve by May based solely on rains.

  10. Matandani says:

    Economics adaphuzila a Goodall Gondwe can not work in this era. The man is too old and can not bring in innovative economic theories to support the current Malawi economic status. The president must appoint someone with fresher economic ideas and on top of that, Donors are well aware when Cash gate started and who are the biggest beneficiaries in Malawi and can not trust their moneys on the same people. Take it or leave it, donors will always find excuses not to come back to support Malawi economically as far as this party continues to govern this country.

  11. sam says:

    The major problem for the downfall for Malawis economy is because of a Reserve bank blunder that from April 2015 allowed exporters to keep 100% of there export proceeds, this has made the xporters hoard there dollars and change them at exhorbitant prices to the bank, thereby fuelling inflation and depreciation of the kwacha by 65%. in THE PAST EXPORTERS WERE ALLOWED TO KEEP 60% only of there export proceeds, which was fair and the kwacha was stabilised, Reserve bank should immediately go back to the old policy that the exporters can only keep 60% of those proceeds in orders to stablise the kwacha, and inflation will only come down once the kwacha has stabilised.

  12. Peter says:

    How is the economy going to re-bound? What have we done differently in recent times? Well, unless we send Goodall back to Local Government and bring in more creative and dynamic economists at Finance, there is no re-bounding of the economy sooner. Mavuto alipo

  13. ngongoliwa says:

    Gogoz like Goodall Gondwe can’t run a country. We have better young guys who can run ministry of Finance.
    Mdala has retired, he’s supposed kumalera adzukulu if he has.

  14. DZUWA LINYENGA says:

    tHIS IS mcp yaunenenso

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