Peter has sought wisdom from late Bingu in current budget

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An economist has expressed optimism that the 2017/2018 National Budget presented by Finance Minister Goodall Gondwe on Friday will improve Malawi if implemented accordingly just as the budgets produced during late Bingu wa Mutharika’s regime.

In an exclusive interview with Malawi24, the economist Joshua Mbewe said the 2017/2018 National budget is promising and can make Malawi’s economy grow.

Joshua Mbewe

Mbewe : This budget looks promising.

“The national budget can be described as “pro poor and inspiring” this is the return of original Goodall Gondwe who steered the economy during late Bingu wa Mutharika’s regime. If implemented as presented without any diversions on resources we will achieve the ambitious single digit figure on inflation come 2018,” Mbewe told Malawi24.

“Inflation has been going down for 10 months now from 24.3% to 14.6%, this is no mean achievement. I am so optimistic that with resumption of budgetary support from IMF and other international donors we will see a robust economic growth as pressure of serving debts will be decreased and that will enhance proper and full utilization of our resources,” he added.

Government has also been pat on the back for increasing funding in ministries like education, agriculture and health because, according to Mbewe, such areas are key to development.

Peter Mutharika

Peter Mutharika : His govt has been hailed for making a ‘promising’ budget to Malawi.

“Allocating of huge resources in education, agriculture and health is a welcome development because these are key ministries of development growth.

“We have also seen the removal of Value Added Tax (VAT) on milk, this is good because farmers will realise more money now and enhance disposable income,” Mbewe said.

According to Mbewe, the removal of VAT on milk will also help consumers to be healthy and contribute positively to the country’s socioeconomic development because of a fair price of the product.

“VAT removal is automatically a catalyst of inflation reduction. This is a budget which will bring cash to the poor, by upwards adjustment of minimum wage to K25000 and Pay As You Earn (PAYE) to K30000 government has really sacrificed a lot considering our economy,” Mbewe said.

He has assured Malawians that if the budget is implemented accordingly, the country will not be the same and this will be the county’s turning point of economic rebound.

“This is the turning point of the country and it is possible to see how the economy improved during the reign of Bingu Mutharika,” Mbewe added.

Government has also assured Malawians that it is making policies that will see the country out of the list of the poorest countries on the earth.

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50 Comments

  1. Lazarus Chakwera, MCP.. sa/sifuna anthu amayankhulidwe ngati awa.. kaya akamva economist uyu dzimuthera bwanji kaya(ngati samusambula ndi mwayi) Chakwera saona chabwino muchirichonse chimene boma likupanga. Economist kuyamikira komanso kukonza momanga.. ”Budget ndiyabwino yokomela ndi wa kumudzi emwe(kuyamikira/kulimbikitsa) ngati itatsatidwa/itagwiritsidwa ntchito monga yapelekedwela..” kuyankhula/kukonza momanga osati mophwasula Big up Economist Joshua Mbewe..!

  2. We can only talk about gud achievement if the government combat corruption selfishness and also gud measure to bring kwacha to value then we will talk about gud leadership

    • Corruption will never end bro, ukanaziwa mmene azungu akupangira kwawoko koma iwowo the good thing is zawo amazisunga mubanjalawo loka koma ifeyo tide timapita kunja kokaziyalutsa. Even donation imene imabwera kuno ija ife timaba Iwo atawonjola Kaye yawo.
      I want you to see how the world is and how it will be mtsogolomu koma uyambe nku werenga bible Kaye and see .

    • the only way of implementing the budget inorder to beneift the communities is by dealing with inflation rate, the Budget shoud base much on reducing prices of basic commodities from the manufucturing level to wholesaling and finale retailing but if implementation is based on using other stakeholder thats when its doesnt reach the intended communities becouse such stake holders the just fill their pockets( resource mis appropriations)

  3. Economist, my foot. The same Economists were always behind the calls for the continuous devaluation of the Malawi Kwacha against foreign Currencies that led the current Economic chaos.

    • Don’t cheat yourself to believe that Malawi has Economists Bro. To me, it doesn’t make sense @all to advise someone on how to manage his/her finances when you actually do not have anything to show on the ground apart from your books, files & advises. There’s so much wisdom in owning a Bank & advise people about Banking.

  4. That is what economists say in every budget. We have provided over k24 billion for mere construction of Phalombe hospital but there is no infrastructure of any sort. Nzovuta

  5. Ooh ngati itha kusintha zinthu tiona abale athu akuzuzuka ku southafrica tu abweleko ndipo muwapase chochita,osamangoweweta,tangoganizani munthu angalandile 20,000 kwacha pa mwezi?,ndindalama zingati zimenezi olo banja sangathe kuthandiza koma ntchito ndiye yakalavula gaga.Malawi watani kodi?.Ine zoti boma limaganizira anthu ake m’paka lero sindimamvetsa.

    • Sangakwanise kutipasa chochita, atipasa chani? angokonza mavuto awo amene alinawowo ife kuno zatizolowera sindingakwanise kulandira K25000 pamwezi ndizipangira chani?