By Suleman Chitera
Minister of Finance Joseph Mwanamvekha says the Malawi Government is prepared to make tough but necessary decisions as part of its new comprehensive economic recovery plan. Speaking during a briefing, the minister said the reforms are aligned with the administration’s manifesto and are aimed at stabilizing the economy while promoting long-term growth.
Mwanamvekha revealed that some of the reforms will take effect immediately, including changes to fuel pricing following the removal of longstanding subsidies. He noted that Malawi’s fuel import bill has sharply increased from approximately $35 million to nearly $60 million per month, putting heavy pressure on government resources.
He said adjusting fuel prices and removing subsidies is essential to prevent further strain on public finances.
“The president doesn’t owe any votes. He wants to do the right thing and show Malawians that he understands their problems and is ready to address them,” Mwanamvekha emphasized.
The minister added that the government will intensify efforts to grow key economic sectors such as agriculture, mining, tourism, and manufacturing. He also outlined plans to boost domestic revenue collection and restructure local debt to create more fiscal space.
The administration believes that supporting productive sectors and reducing reliance on external financing will help create jobs, increase exports, and build a more resilient economy.
