Economics Association of Malawi (Ecama) has recommended strengthening public finance management and prioritising resource allocation toward high-growth sectors.
Ecama, an umbrella body for economists, says reducing appetite for borrowing would help ease fiscal pressure.
Ecama President Bertha Bangara Chikadza outlined the policy recommendations in an interview.
She said they were aimed at stabilising the country’s economy and protecting vulnerable populations.
“Enhancing domestic revenue mobilisation is critical. This can be achieved by broadening the tax base, reviewing existing tax incentives, and assessing the necessity of exemptions. Such reforms will increase revenue collection and help narrow the fiscal deficit,” Chikadza said.
- Advertisement -
According to Chikadza, Malawi must create a stable investment climate to unlock the potential of key sectors such as agriculture, tourism, mining, and manufacturing (ATMM).
She recommended a shift in agriculture toward commercialisation, irrigation, and value addition.
For the tourism sector, the association underscored the need for improved infrastructure and strategic marketing, while in the mining sector, it called for a robust regulatory framework and increased transparency to attract investment.
“While in manufacturing, addressing the energy constraints the country is currently facing is important to promote industrial growth. The government should also ensure the implementation of existing policies that favor the development of these sectors,” Chikadza said.
- Advertisement -
- Advertisement -
In an earlier interview, Secretary to Treasury Betchani Tcheleni pointed out that the programme’s contractionary framework, which included strict controls on spending, wage growth, and currency valuation, conflicted with Malawi’s broader economic transformation.
