Tag archives: economy

Malawi ranks lowest on Brookings financial inclusion scorecard: Scores 61%

By Nyasa Times Reporter

Malawi has been ranked 22nd out of  66 countries surveyed by the Brookings Institution,  a U.S. nonprofit think tank in Washington, D.C. that conducts research and education mainly in economics, but also in governance, domestic and foreign policy, and development. Brookings experts analyzed the financial inclusion landscape in 21 geographically, economically and politically diverse countries, including Afghanistan, Bangladesh, Brazil, […]

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Malawi hopeful economy to be on right path: To consolidate growth, harness inflation

By Nyasa Times Reporter

Malawi government intends to consolidate growth, harness inflation and improve the external sector to be in sync with the next Extended  Credit Facility (ECF) with International Monetary Fund,  Secretary to Treasury Ben Botolo has said. IMF head of mission to Malawi Oral Williams pointed out that despite the just ended ECF broadly achieving its macroeconomic […]

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Opposition gives govt six-month ultimatum to address challenges facing Malawi

By Nyasa Times Reporter

The governing Democratic Progressive Party (DPP) has been urged by an opposition block to address challenges facing the country before they complicate further. Leader of opposition Lazarous Chakwera, who is president of Malawi Congress Party (MCP), addressed a news conference in Blantyre on Tuesday with leaders of other political parties, who gave government a deadline […]

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Reserve Bank of Malawi says economy recovering, forecast robust growth

By Nyasa Times Reporter

The Reserve Bank of Malawi (RBM) has disclosed that the economy now is recovering from the shocks that it has had over the past five years such as that of major devaluation in 2012, Cashgate in 2013 and weather vulnerability in 2015 and 2016. Malawi has just successfully weathered off from the shocks of the […]

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Reserve Bank of Malawi cuts key lending rate to 18 percent  —Economy fast gaining ground

By Nyasa Times Reporter

Reserve Bank of Malawi (RBM) said on Wednesday July 5 2017  it has cut the benchmark lending rate by 400 basis points to 18 percent as consumer price inflation slows. Malawi’s consumer inflation slowed to 12.3 percent year-on-year in May from 14.6 percent in April, the statistics agency said last month. RBM has projected inflation […]

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Malawi govt ‘too broke’ to accept MPs 70% salary hike: LL City staff get 25% pay rise

By Nyasa Times Reporter

Minister of Finance, Economic Planning and Development Goodall Gondwe has said the  cash-strapped government will not accept Members of Parliament (MPs) 70 percent salary hike pursuits. Gondwe said instead MPs will get the 10 percent  pay rise just like other civil servants. “The government has no money,” Gondwe said. MPs are now getting over K1 million and […]

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Prof Moshi says ‘evidence based policy formulation key to development’

By Nyasa Times Reporter

Professor Humphrey Moshi, an Economic and research expert has advised public and private institutions in the country to use research based policies in order to meet the needs of Malawians in different development programs. “It’s important policies should not be made by opinion, but have to be informed by research and only then can we […]

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Malawi economy is bad, Afrobarometer survey reveals: Minister Dausi says results surprising

By Nyasa Times Reporter

The  research institution Afrobarometer report findings, reveals that the country’s economy is in bad shape but government says it is surprised with the survey results. According to the results finding delivered at Victoria Hotel in Blantyre, 86% of respondents said the feel economic turmoil despite the falling consumer and national inflation. The country’s annual rate of […]

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Malawi on track towards economic independence, says Minister Dausi

By Nyasa Times Reporter

Minister of Information and Communications Technology Nicholas Dausi has said Malawi  is making great strides towards self-dependence as evidenced by its ability to run without budgetary support from donor partners in the past few years. Dausi said this on Friday in Lilongwe when he  was briefing members of the press on the commemoration marking the […]

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World Bank cuts Malawi 2017 GDP growth rate: Projects 4.4 percent

By Nyasa Times Reporter

The World Bank has painted a gloomy economic outlook for Malawi by revising downwards the country’s real gross domestic product (GDP) growth rate to 4.4 percent contrary to Reserve Bank of Malawi estimate of 5.6 percent made  in January. World Bank says  in its latest biannual publication Malawi Economic Monitor  (MEC) that the GDP rate will be […]

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Malawi govt K860bn debt trap worrisome — MP Chimwendo Banda

By Nyasa Times Reporter

Chairperson of the Parliamentrat Committee on Social and Community Affairs, Richard Chimwendo-Banda has expressed concern with the K860 billion domestic debt by government, saying it is as worrisome. Chimwendo-Banda said the demostics debt  is a recipe for trouble, saying there us need for government to reduce domestic borrowing. “The figure K860 billion is very worrisome,” […]

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Malawi govt bemoans foreigners’ dominance in business sector: Develops ‘Economic Empowerment Policy’

By Nyasa Times Reporter

Malawi government has bemoaned the continued dominance by foreigners in the investment sector and has since initiated development of a policy to empower Malawians economically. Government through Ministry of Industry, Trade and Tourism is formulating National Economic Empowerment Policy (NEEP), and consultations are expected to start on Wednesday in Blantyre. Secretary for Industry, Trade and […]

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It’s Mutharika’s grand finale, Chakwera tells Parliament: President ‘hoodwinked’ Malawians

By Nyasa Times Reporter

Leader of opposition and Malawi Congress Party (MCP) president Lazarous said  in parliament on Monday that he is reminding  all Malawians that this coming fiscal year is “ technically the last one” of President Peter Mutharika’s term of office. Chakwera said this time next year, Mutharika and “his coterie” will be gearing up for a […]

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Malawi inflation rate slow down again but prices rising

By Nyasa Times Reporter

Malawi’s inflation rate has dropped further to 15.8% from 16.1%, according to Nico Assets managers. The inflation rate hovered at 21.5% in May 2016 and rose as high as 23.5% in July 2016. However, as the inflation   —a monster that eats into the majority of people’s disposable income—keeps on dropping, the prices of essential […]

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Mutharika admits minimum wage on lower side, assures to lift Malawi workers out of low pay

By Nyasa Times Reporter

President Peter Mutharika has said his administration will ensure it raise a minimum wage from the current K687.70 per day. Mutharika was responding to the appeal by the Malawi Congress of Trade Unions (MCTU) to raise minimum wage. Speaking on Monday May 1 in commemorating International Labour Day, MCTU president Luther Mambala said the current […]

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Malawi must adopt transformative strategies over new economy

By Nyasa Times Reporter

Looking at the age we are [53 years] and looking at how many leaders our country has had and the wealth they and their families have accumulated and looking at how citizens and the country have underdeveloped, we will discover that we are and have become POOR. In essence poor means ” Passing Over Opportunities […]

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