Finance Minister, Sosten Gwengwe says the country’s economy is projected to grow by 2.7 % this year; adding some macro-economic indicators show the economy will be recovered.
He has made the sentiments this morning in Blantyre at a pre-budget consultation meeting his ministry is holding ahead of the 2023/2024 fiscal year slated to start in April.
The meeting has drawn together business captains, religious leaders and civil society organizations, among others.
Gwengwe says the country needs more revenue collection means to sustain its needs.
“We need to work on reducing national deficit and its my plea that our discussion should as well centre on that,” said Gwengwe in his opening remarks.
Malawi Confederation of Chambers of Commerce and Industry Chief Executive Officer, Chancellor Kaferapanjira describes the projected economic growth as not good enough for the country.
But he stresses there is need for collaborative efforts to turn the reality different. The projected growth is a rise from the 1.7% of the 2022 fiscal year.