Malawi economy to grow by 3.2%, says Finance Minister

Finance Minister Simplex Chithyola Banda is predicting that the country’s economy will grow by 3.2 percent this year.

Chithyola Banda said this today (Tuesday) in Mzuzu during pre-budget consultations meeting.

He said the country registered a Gross Domestic Product (GDP) growth of 1.5 percent in 2023, compared to 0.9 percent in 2022.

He projects that the economy will grow by 3.2 percent this year, on account of foreign exchange availability and investments in the agriculture sector.

"We could sit in Lilongwe and develop a budget, present it in Parliament and it passes, but that will not truly reflect what is required. Not all contributions can be taken, so let's contribute.

"What we are doing will shape the future of this country and build the Malawi we want", said Chithyola Banda.

Minister of Finance and Economic Affairs is leading the 2024/25 pre-budget consultations at Sunbird Mzuzu Hotel. It is the third meeting after Blantyre, Lilongwe and Mzuzu