‘Next year people will clap hands for govt’: Goodall talks of reviving Malawi economy

Malawians are increasingly pessimistic about their country’s future with a fragile economy but Finance, Economic Planning and Development Minister Goodall Gondwe has drawn up plans for “resurrecting” the country’s economy, which he admitted is ailing.

Goodall promised economy recovery by next year

Goodall promised economy recovery by next year

Gondwe with World Bank Country Manager Laura Kullenburg

Gondwe with World Bank Country Manager Laura Kullenburg

The Finance Minister said Malawi is “passing through difficult times,” which means that even people below [the poverty line] are even more affected.

Gondwe is upbeat that when all measures to recover the economy are taken, by next year Malawians will “clap hands “for the Peter Mutharika led government.

“We have taken bold steps to jump-start the economy and I am certain that next year you will be clapping hands to government,” said Gondwe during the signing ceremony at Capital Hilll in Lilongwe of a financial agreement worth $75 million (about K40.5 billion) between Malawi Government and the World Bank towards Malawi Social Action Fund (Masaf 4) .

He said the Masaf 4 cash injection from World Bank would help ease current economic woes.

According to Gondwe, Masaf intends to strengthen Malawi’s social safety net delivery systems and coordination across programmes.

The project, which is aptly called Strengthening Safety Net Systems by the World Bank, seeks to help reduce poverty levels of about five million poor Malawians by providing work opportunities, cash transfers and grants to raise household incomes.

Through the project, government will focus on investments such as livelihood and skills development interventions and social cash transfers, said Gondwe

He described the project “ very important” in Malawi which has a positive impact on many ordinary people, citing school blocks, teachers’ houses, bridges and roads, health centres, irrigation infrastructures, boreholes and afforestation as some of the projects that have been implemented with support of the Masaf project.

Gondwe said other measures to recover the economy include halting the sharp depreciation of the kwacha against major trading currencies through the Reserve Bank of Malawi (RBM) .

According to local press reports, Malawi’s headline inflation now stands at 22.2 percent in July from 21.3 percent in June and 19.5 percent in May, triggered by rising food prices on account of a weak currency and the deficit in the staple food, maize which has a weight of 50.2 percent in the Consumer Price Index (CPI)—a basket used by government statisticians to compute inflation figures.

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jabulani
Guest

Silly old man. Why can he just stop yapping his empty promises?

Zahid Munshi
Guest

I trust you nganya!

Pension Nenereko
Guest

Mkulu uyu wakalambadi nzeru zabwerera kubwanja – mbwelerela zonkazonka???????????

Bratusha
Guest
When we had economic gains during the first term of Bingu administration people mistakenly thought it was because of the mastercraftsmanship of Goodall Gondwe as finance minister. That was a goof a conclusion. The real economic man was Bingu himself. Goodall was just an errand boy. The proof is what we see today . When we have a president of low profile like Peter see how Goodall is dismally performing as finance minister. Whether we like it or not the president shapes the destiny of the nation and that is why it’s called the high office.
Major Prophet Bashiri Maluzi
Guest
Major Prophet Bashiri Maluzi

Kodi a Malawi tulo tathu tinafika pati. This man has been telling us this lie for decades. Goodall is just a name there is nothing in this tired, ailing mnganya that can help Malawi. Zero.

Just look at those bulging eyes. Boza

zeze
Guest

Pple are dying today, who do you think will be there to clap hands for you, pitala or patirisya? Mbuzi yamunthu yopanda mano kunsi. Wait there if you will be there this time next year.

jimbo
Guest
GG promises to ‘halt the sharply depreciating kwacha against major trading currencies’ by next year. He does not say how he will achieve this economic miracle. If he knows the answer, why does he not do it NOW? Promises, promises, promises, this is all the government can offer. Not one word about HOW it will achieve these promises. Considering the dire state in which Malawi finds itself now, it is impossible to bring about any noticeable change in just one year. These words of GG should be remembered in a year’s time and we will see who will be clapping… Read more »
chimwemwe
Guest

Goodall you have lost your mind with a deprecaiting and unstable currency no one can invest in Malawi, just resign gracefully. Kwacha is bleeding, no funding to hospitas, Road traffic horror, Government bankrupt and you say we will clap hands. Must say again DPP you are out of touch with the publics problems

Souja
Guest

Idiots!

Dwambazi
Guest

Clap hands for who????

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