Chilima says Tonse Govt will take painful measures to revive economy

Malawi Economy: Chilima says Tonse Govt will take painful measures

Vice President Saulos Chilima says the government will take painful measures to stabilise the Kwacha and control prices of goods.

He was speaking this afternoon when he was responding to questions from Members of Parliament in his capacity as Minister of Economic Planning, Development and Public Sector Reforms.

Chilima said the government is aware about the worsening economic situation and it will not let the country to perish.

Said Chilima: “Let me assure Malawians that we will be taking short to medium term painful measures that will better the situation soon.

According to Chilima, one of the measures taken is reduction in policy rate by the Reserve Bank of Malawi in order to make borrowing cheaper.”

He added that Government will encourage production so that Malawi should export more goods and get more forex. Member of Parliament for Mulanje Central Kondwani Nankhumwa asked Chilima on how far Government has gone with the Reforms agenda.

In his response, Chilima said Public Sector Reforms are being managed and implemented with renewed vigour by all the stakeholders.

He noted that 23 Ministries, 35 Local Councils, two Arms of Government – the Parliament and the Judiciary, 9 Constitutional Bodies and 67 State Owned Enterprises are implementing reforms as agreed and signed for in their Reforms Performance Contracts.