It is true that Malawi is currently passing through some tough economic times. However, Malawians are assured that Minister of Finance and Economic Affairs Honourable Simplex Chithyola Banda is working tirelessly and restoratively.
To begin with, as a good leader, State President Dr. Lazarus McCarthy Chakwera prioritises protection of socio-economic rights of all Malawians.
Economy Psychology reveals that Chithyola Banda possesses two fiscal and monetary game plans: to stabilise the economy and to enhance growth.
To achieve these, he is addressing three key areas: stabilising the economy, stimulating agricultural export competitiveness and market delivery growth in the economy and protecting the poor and strengthening resilience.
Today, we look at stabilising economy only. This line minister is ensuring implementation of macroeconomic reforms including building foreign reserves, achieving fiscal consolidation goals for the current fiscal year, returning debt to a sustainable path through restructuring, implementing key governance and public financial management (PFMs) and continuing the shift toward a more flexible exchange rate regime.
In our next article, we will dig deeper on creative methodologies put in place before discussing stimulation of agricultural export competitiveness and protection of the poor and strengthening resilience.
