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.

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.