Malawi President Lazarus Chakwera has appointed Malawi Confederation of Chambers of Commerce and Industry (MCCCI) chief executive officer Chancellor Kaferapanjira as his chief economic advisor, Nyasa Times understand. The appointments take immediate effect. Chakwera is signalling a private sector-centric formula to the country’s prosperity as he also entrusted economic planning and fiscal policy to two former […]
Malawi could be heading for economic recession with gross domestic product (GDP) projected to contract by -3.5 percent as the financial toll of the coronavirus continues to escalate. A recession is a macroeconomic term that refers to a significant decline in general economic activity. Malawi did not go into full national lockdown for Covid-19, but the local […]
Vice-President Saulos Chilima has challenged parastatals to adopt the public sector reforms to spur national economic growth. Speaking after meeting parastatal heads in Lilongwe, Chilima said the parastatals’ performance has been a “mixed bag”; hence, the Tonse Alliance-led administration expects them to improve going forward. Chilima, who is also Minister for Economic Planning and Development […]
Barely a year after assuring Malawians that he will develop the country to levels of Singapore; President Peter Mutharika has backtracked and now says he will develop Malawi to levels of United States of America. Speaking on Wednesday in Lilongwe, Mutharika—who returned to Lilongwe after a three-month absence—promised the people of the capital city that […]
Malawi’s rising public debt –combination of domestic and foreign–has been described by Minister of Finance, Economic Planning and Development Joseph Mwanamvekha as worrisome. The debt stock, according to Annual Debt Report by the Ministry of Finance, Economic Planning and Development, jumped to K3.7 trillion or 65 percent of GDP during the 2018/19 financial year from K3.1 […]
Perhaps Finance Minister Joseph Mwanamveka should have had a word with Friday Anderson Jumbe, Malawi’s purse keeper between 2002 and 2004. In presenting the 2003/04 National Budget, with the 2004 general elections in mind, Jumbe admitted being a stressful man. “There is nothing difficult than developing a national budget and, even worse, presenting to the […]
Minister of Finance Economic Planning and Development Joseph Mwanamvekha on Friday morning presented the 2020/21 problematic National Budget with a backdrop of experiencing a dramatic 35 percent drop in revenue collection. The 2020/21 National Budget has been pegged at K2.2 trillion, which represents a 9 percent increase from the 1.84 trillion mid-year revised estimate in […]
Despite the triple pains of natural disasters, escalating political violence and the rage of coronavirus (Covid-19) global outbreak, Malawi economy in 2019 grew by 5 percent. President Peter Mutharika made this revelation during his recorded State of Nation Address on Friday. Said Mutharika on natural disasters: “The country has just survived the economic shocks of […]
Cross Roads Hotel in Lilongwe has become the first company in Malawi to retrench staff due to the raging coronavirus (Covid-19) pandemic. Management has confirmed the rentrenchment of 20 staff. “We are not making enough money due to the Coronavirus, as we don’t have guests because of lockdown in most countries as well as the […]
Economic experts have warned that headline inflation may swell back to a double digit band and interest rates may increase if the government continues to spend beyond its means. UK-based Malawian expert, Sane Zuka and local economic think-tanks, Economics Association of Malawi (Ecama), said this when commenting on economic trends as reported by the Reserve […]
Legal scholar, who is also Dean of Law at University of Malawi’s (Unima) School of Law Sunduzwayo Madise, has said the coronavirus (Covid-19) measures which Minister of Health Jappie Mhango has published in the Malawi Gazette – official government publication- including a nationwide lockdown should not be involving curtailing of people’s rights and freedoms. In the notice, Mhango, who is […]
A premium African financial services and solutions company, Old Mutual Limited, has warned citizens against making irresponsible financial decisions during coronavirus (Covid-19) crisis and must not buy “more than is needed”. Financial Education Specialist at Old Mutual Malawi Limited, Benard Chiluzi, has said this in a statement made available to Nyasa Timesas shoppers have started […]
The Reserve Bank of Malawi (RBM) has released K12 billion into the country’s commercial banks to enable the financial institutions support sectors hit by the coronavirus outbreak and announced a raft of other measures to bolster Malawi’s economy. RBM Governor, Dalitso Kabambe, announced this in a statement dated April 1 2020 after a two-day meeting […]
Even without a single case of the deadly coronavirus (Covid-19) registered, Malawians are already feeling the pinch of the pandemic. Our two main key trading partners, Tanzania and South Africa, are on a lockdown. This, already, has pushed prices up as demand of goods is soaring against supply. Even as government is banning social and […]
International Monetary Fund (IMF) has warned that Malawi risks a “deeper disruption to economic activity” due to the effects of coronavirus (Covid-19). In a statement at the end of an IMF staff visit, Mission Chief for Malawi Pritha Mitra while commending authorities for regaining control over budget in the first half of the 2019/20 financial year, […]
Malawi’s economy recent economic performance has been favourable and the International Monetary Fund (IMF) says it is likely to expand by 6-7% this year, notwithstanding the effects of coronavirus on its economy. IMF mission chief for Malawi Pritha Mitra said late on Tuesday that inflation is expected to fall to 9.3% in 2020 from 11.5% in […]
New ministers are expected to be announced as President Peter Mutharika freshens his Cabinet – a break away from lean team – in an attempt to convince voters that his administrations has the energy, ideas and talent for government. Mutharika dissolved Cabinet last week a move political analysts believe is to incorporate Democratic Progressive Party […]
If you are studying abroad, you might have to experience a lot of stress, especially when it comes to the overwhelming amount of subjects and homework. Some of the most popular assignments students get in such classes as Economics or Finances are the financial essays. If you have to write such a paper and don’t […]