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Finance Minister Joseph Mwanamvekha said Malawi's economy is stabilising, with inflation dropping down from 28.2 percent to 20.0 percent in a year, as the government negotiates a new IMF Extended Credit Facility (ECF) programme.
He made the remarks on Thursday at the launch of the World Bank's 23rd Malawi Economic Monitor at the Bingu International Convention Centre, and he promised the programme would be "nationally designed."
Mwanamvekha said the country has made headway in stabilizing the economy citing the dropping of food inflation from 33.7 percent to 13.4 percent between August 2025 and August 2026, the policy rate easing from 26 to 24 percent, and GDP growth rising from 2.5 to 2.8 percent and foreign reserves improving from less than a month to 2.5 months.
The government also recorded a domestic primary surplus in the first five months of 2026/27 as revenues beat targets.