header image

Malawi May Follow Suit & Recalculate GDP

Finance Minister says real growth may actually be as high as 7.5%

Malawi’s Finance Minister, Goodall Gondwe, told Bloomberg TV that he believes Malawi should copy the likes of Nigeria and Kenya and change the way it records the country’s growth.

Kenya recently decided to included mobile transactions to calculate its gross domestic product and now has a larger GDP than Ghana.

The IMF estimates that Malawi’s growth will be between 5 and 6 percent this year, but with Gondwe’s proposed methodology, growth could actually be 7.5% or higher.

The IMF recently froze aid to Malawi due to accusations of corruption. Gondwe said we need close to about $100 million or so, but more importantly we need a considerable amount of money for development projects in the country

To read our source article, click here.