‘The economy has improved’ – Lipenga


Finance Minister Ken Lipenga says the country’s economy has improved, citing increased foreign currency reserves and steady supplies fuel as key signs of better times in the country.

Lipenga also said some international donors have started to honour their pledges after the passing of the budget to help cushion the effects of the economic reforms.

He was speaking last week at Capital Hill Lilongwe after signing a K40.7 billion grant agreement with the European Union (EU).

“We are better off now than we were not too long ago,” said Lipenga, adding: “The situation has improved, no matter how small it might.”

He said fuel is now available and that people no longer struggle to buy forex on the market as it was before.

He said the improvements have not come miraculously but that they were as a result of policies put in place by the present government.

Lipenga said donors such as the Africa Development Bank (AfDB), Germany and the European Union have started moving in with aid.

EU Head of Delegation , Alexander Baum disclosed at the function that the grouping has unlocked Euro 80 million in aid for Malawi for programmes that were earlier withheld owing to political and economic governance concerns.

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