The Malawi government says it is optimistic that the country’s economy will greatly improve if the country will receive good rains this rainy season.
In the last rainy season, Malawi experienced heavy rains and drought in some areas which greatly affected the country’s economy as the bad weather eventually led to 2.8 million people facing hunger.
However, Minister of Finance and economic planning, Goodall Gondwe, says the country’s economy will continue to improve as at the moment government has only borrowed 18 billion Kwacha out of the expected amount of 50 billion Kwacha.
“We are going to be on the right track by 31 December 2015, that’s the date we’ve been given and we have to make sure that the amount we borrowed is only 50 billion Kwacha of which now we have only borrowed 18 billion Kwacha,” said Gondwe.
He further said that the amount which has been borrowed shows that government has greatly minimized its expenditure.
“At the moment we have borrowed a small amount from 50 billion Kwacha which is a good move as it shows that government is wisely managing its finances,” he said.
Gondwe added that the heavy rains Malawi experienced earlier this year affected the economy of the country and government is optimistic that if the country will receive good rains in the 2015/16 rainy season, the economy will greatly improve.
He said that in the year 2015 Malawi passed through hard times as floods and hunger hit the country but on the other end Malawi is on the right track.