Government has said it can pull Malawi out of the list of the world’s poorest countries within the next 10 years.
Speaking when he presented the 2017/2018 National Budget, Minister of Finance Goodall Gondwe said government’s economic goal for the medium term and for the financial year is founded on common aspirations of Malawians that the country should move out of a group of countries that are considered to be the poorest in the world.
“Most economists and Malawians in general feel that a better management of the economy could pull the country out of this group and it is assumed here that this can and should be done within 10 years by doubling our economy per capita by that time,” Gondwe said.
According to Gondwe, this target is possible through shaping of policies and management of fiscal issues with an aim of registering an average growth rate of 7 percent per year.
“There will be others who will be apprehensive about this objective, and will be arguments as to why this objective is too ambitious. However, the target of a growth of 7 percent per year is an ambition that is not based on complicated mathematical economics but it has to be attained if the aspirations of Malawians are to be satisfied,” Gondwe said.
“It should be also be pointed out that this country’s potential is far from being exploited fully and that with good policies and sound economic management of the resources , the required hard work from all Malawians and institutions, there is no reason why this target cannot be reached.”
He therefore urged Members of Parliament to make sure that when they are deliberating on each vote, they should insist that policies that maintain macroeconomic stability particularly to fiscal discipline are sustained.
He also advised government leaders to spend more time on developing the country than on personal welfare.