The World Bank says Malawi needs to manage its urbanisation process as this will be critical to the country’s effort to boost resilience, reduce poverty and achieve sustainable growth.
In the fifth edition of the Malawi Economic Monitor (MEM) titled Harnessing the Urban Economy released on June 1, the bank says Malawi is still at an early stage of urbanisation and a slow urbanisation rate will position the country to formulate plans to maximise the benefits of urban agglomeration into the future.
It however cautions that a rapid rate of urbanisation might result to poverty unless public resources are allocated to meet investments needs in urban and capable of local government street areas to manage increase d urbanisation rate .
The MEM suggests that a systematic effort should be made to improve revenue of city councils from their own sources with emphasis on tax and better management of resources and services.
It also states that measures such as modernising payments system, reducing packages and updating regulatory provisions should be considered.
The World Bank in the report has also reviewed the latest economic development in the country, estimating GDP growth to increase to 4.4 percent in 2017 driven by improved conditions in the agriculture sector.
According to the analysis, a favourable weather pattern with increased rainfall in this year is expected to result in higher level of agriculture output than in 2015.
It further assumes that with the improvement in agriculture production and reduced pressure on food prices, the average inflation rate will decrease to 15.2% in 2017.
The MEM also acknowledges the government efforts in improving reforms such as agriculture markets and fiscal arrangements containing public debts.
the photo shows the best and commercial city of Malawi – Blantyre. This is the best spot in the city perhaps where we all pass through at leat once or twice and even more when you are having your business errands across the time. Malawi is really poor – not question about that. When a temptation to steal public resources one ought to think twice; and ask ‘what am I doing?” But when your conscious is sealed then you just go ahead with the dictates of the heart! very sad.,