Chancellor College based economics professor Ben Kaluwa says Malawi is moving towards the right direction economically after a long time.
In his assessment of the economic policy framework adopted by the current regime from the beginning of this year, kalua said the move towards a promising direction is clear.
He cited the increase of the amount allocated to the education sector in the 2017-2018 national budget as a key indicator of the progress.
“This shows that the country is moving away from a subsidy culture,” he said
The 2017-2018 National Budget had the highest amount allocated to the education sector at K235 billion followed by the agriculture sector at K192 billion representing 18% and 15% of the total budget respectively.
Kalua commended this development as a possible solution to the continuous shortage of human resource.
“This will assist with the increase of human capital, an area which has been lacking behind for a long time,” he elaborated.
He recommended that the country invests more in Information Communications Technology (ICT) as the main pillar to improving financial inclusion and literacy rate.
Kalua referred to Rwanda as an African country which is benefiting from this investment despite having limited resources.
Although Malawi’s economy faced a number of challenges in the year 2016, the year 2017 has seen significant progress.
Headline inflation continues to decelerate faster than anticipated falling to 8.3 percent in October 2017 compared to 20.1 percent during the same period last year.