By Patience Longwe
Lilongwe, February 28, Mana: Minister of Finance and Economic Affairs, Simplex Chithyola Banda, has announced a comprehensive plan to tackle the country’s economic challenges.
He stated that the strategy is for the development of price stabilization policy, aimed at curbing inflation and ensuring stable prices for essential goods.
In his remarks made in parliament on Friday when he presented the 2025/2026 budget, Chithyola said addressing the pressing issues of food security, government is working to secure an adequate maize supply in the market.
“This move is expected to provide relief to Malawians who have been struggling with food shortages and high prices,” he said.
He also revealed that a National Anti Forex Unit has been established to combat parallel forex markets and illegal forex trading.
“This Unit will work closely with the police to crack down on these illicit activities which have been draining the country’s foreign exchange reserves,” said Chithyola.
He also said that the measures demonstrate the government’s commitment to addressing Malawi’s economic challenges, by stabilizing price’s, ensuring food security,and improving foreign exchange availability,the government aims to create a more favourable business environment and improve the lives of Malawians.
“As outlined in the 2024/2025 budget statement, government’s strategy also focuses on accelerating production and enhancing the legal and regulatory environment to protect the economy.
The Agriculture, Tourism and Mining (ATM) strategy is expected to play a crucial role in boosting domestic revenue and promoting economic growth ” He stated.
He, therefore said the announcements offer a glimpse into the government’s efforts to revitalize Malawi’s economy by implementing the measures, the government hopes to pave the way to a more prosperous and stable future for all Malawians.
