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Malawi needs K12.3 trillion to attain middle-income status


Thomas Munthali

By Deogratias Mmana:

The National Planning Commission (NPC) has said Malawi needs $15 billion (about K12.3 trillion) to graduate to middle income status by 2030.

Malawi is geared to achieve the middle income status by 2030 as it operationalises the first 10 years of the Malawi 2063 vision in collaboration with the Ministry of Economic Planning and Development and Public Sector Reforms.

NPC Director General Thomas Munthali said this on Tuesday at a news conference in Lilongwe ahead of the commission’s second national development conference which will take place next week from November 8 to 9.

The conference, to be held under the theme ‘Together Commencing the Journey to an Inclusively Wealth and Self-reliant Nation’, will be presided over by President Lazarus Chakwera.

Munthali said the conference is aimed at launching the Malawi 2063 first 10-year Implementation Plan (MIP-1).

He said the Malawi 2063 will be operationalised in blocks of 10-year implementation plans.

“The MIP-1 is largely a collection of minimum catalytic interventions that have been determined to contribute to the MIP-1’s two key milestones of graduating the country to a middle-income status and meeting most of the Sustainable Development Goals by 2030.

“So, the interventions are largely meant to act as a guide to both State and non-State actors on the type of catalytic interventions we wish to promote as a country in the first 10 years of Mw2063 implementation,” Munthali said.

He said, by 2030, the vision is that every Malawian should be able to spend an average of $1,000 (K824,000.00) per year. Currently they spend around $380.

Munthali said MIP- 1 identifies quick-win interventions that are already in the pipeline or have low cost implications or have ready finance commitment. He said MIP-1 also presents prioritised flagship programmes and projects that will accelerate Malawi’s progress towards creating an inclusively wealthy and self-reliant nation.

The plan also defines indicative financing options for every intervention. Government will coordinate groups mobilising resources but its annual budgets will draw on the priorities defined in the pillar and enabler groups.

Secretary for Economic Planning, Development and Public Sector Reforms Winford Masanjala said government has put measures to ensure that the first 10-year vision is implemented.

Munthali said MIP-1 involved a series of consultations and validations with stakeholders on the programmes to be implemented.

He said MIP-1 has now replaced MDG111, whose implementation period was 2017 to 2022.

MIP-1 has also been developed with due consideration of relevant global and regional development frameworks that are essential to facilitating the implementation and realisation of Mw2063.

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