Publication:
Malawi Economic Monitor, July 2024: Reforming with Urgency - Malawi's Path to Economic Stability

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dc.contributor.authorWorld Bank
dc.date.accessioned2024-07-23T15:57:51Z
dc.date.available2024-07-23T15:57:51Z
dc.date.issued2024-07-23
dc.description.abstractEconomic growth in Malawi fell short of expectations in 2023 and is projected to remain subdued in 2024. While implementation of planned macroeconomic and structural reforms is expected to boost Gross Domestic Product (GDP) growth over the medium term, an El Niño-induced drought has worsened the near-term growth outlook. Addressing Malawi’s difficult economic situation requires a combination of immediate emergency-response efforts and the implementation of structural reform. However, downside risks continue to dominate the outlook. The impact of climate-related shocks during the current El Niño year could be larger than anticipated, while fiscal slippages, delays in debt restructuring, or the slow implementation of public financial management reforms could further increase macro-fiscal instability. The continued lack of foreign-exchange availability could result in shortages of critical imports, which would reduce economic activity. At the end of 2023, the government reached an agreement with the IMF on a four-year program under the Extended Credit Facility (ECF), and the resumption of budget support from the World Bank and African Development Bank will support important reforms designed to accelerate long-term growth. These achievements have bolstered confidence in the reform process, but success is far from assured. Rebalancing the economy and enabling faster, more inclusive growth, while strengthening resilience against shocks will require accelerating reform efforts. This nineteenth edition of the Malawi Economic Monitor (MEM) outlines urgent policy measures required to stabilize the economy, protect vulnerable households, and enhance long-term growth.en
dc.identifierhttp://documents.worldbank.org/curated/en/099071724103515033/P17952911466830541bbed1eb3d3ade0049
dc.identifier.doi10.1596/41931
dc.identifier.urihttps://hdl.handle.net/10986/41931
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectSOCIAL PROTECTION SYSTEMS
dc.subjectSAFETY NETS
dc.subjectSOCIAL PROTECTION INFRASTRUCTURE
dc.subjectSDG 2
dc.titleMalawi Economic Monitor, July 2024en
dc.title.subtitleReforming with Urgency - Malawi's Path to Economic Stabilityen
dc.typeReport
dspace.entity.typePublication
okr.crossref.titleMalawi Economic Monitor, July 2024: Reforming with Urgency - Malawi's Path to Economic Stability
okr.date.disclosure2024-07-23
okr.date.lastmodified2024-07-17T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/099071724103515033/P17952911466830541bbed1eb3d3ade0049
okr.guid099071724103515033
okr.identifier.docmidP179529-1466834d-b661-4454-bbed-eb3d3ade0049
okr.identifier.doihttps://doi.org/10.1596/41931
okr.identifier.externaldocumentum34365830
okr.identifier.internaldocumentum34365830
okr.identifier.report192610
okr.import.id4880
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099071724103515033/pdf/P17952911466830541bbed1eb3d3ade0049.pdfen
okr.region.administrativeAfrica Eastern and Southern (AFE)
okr.region.countryMalawi
okr.sectorCentral Government (Central Agencies)
okr.themeInclusive Growth,Job Creation,Data Development and Capacity Building,Economic Policy,Economic Growth and Planning,Fiscal Policy,Private Sector Development,Public Sector Management,Monetary and Credit Policies,Fiscal sustainability,Jobs,Data production, accessibility and use,Macroeconomic & Structural Policy Modelling,Macro-financial policies,Structural Transformation and Economic Diversification
okr.topicSocial Protections and Labor::Safety Nets and Transfers
okr.unitEFI-AFR1-MTI-MacroFiscal-1 (EAEM1)
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