Update: The Reserve Bank of Malawi has projected that inflation will decline to 24.8 percent this year, down from 28 percent in the previous financial year, due to improved agricultural output and a stable food supply. Speaking at a Monetary Policy Technical Forum, RBM Director of Financial Markets Esther Matchado noted that the central bank expects better foreign exchange reserves, according to allAfrica. Matchado confirmed that the bank is maintaining the recently reduced policy rate at 24 percent to support economic recovery.
In government finance, Speaker of Parliament Sameer Suleman has launched an initiative for Parliament to attain financial autonomy from the Executive branch to improve its economic oversight functions. During a meeting with the private sector in Blantyre, Suleman argued that reliance on Executive funding compromises Parliament's ability to investigate government activities, Nation Online reports. Malawi Confederation of Chambers of Commerce and Industry President Wisely Phiri welcomed the engagement, noting it was a rare consultation with the business community outside of standard budget sessions.
Meanwhile, the Malawi Economic Justice Network has criticized the exclusion of youth voices from the national budget formulation process. During a Youth Economic Town Hall Meeting organized with Oxfam Malawi, network Programs Manager Cecilia Phiri warned that sidelining young people could negatively impact budget implementation, Nyasa Times reports. Lilongwe University of Agriculture and Natural Resources student representative Lekani Juwa echoed the call for the government to include youth perspectives in economic policy and decision-making.