AfDB launches 2010 African Economic Outlook in Malawi
The African Development Bank (AfDB) launched the 2010 edition of the Africa Economic Outlook (AEO) on 22 July, 2010 in Lilongwe, Malawi. The event was organised to share key findings of the report and provide policy makers, the private sector, academia and the civil society the opportunity to discuss their implications for Malawi.
The country’s Finance Minister, Ken Kandodo, who was the Guest of honour at the launch, expressed the government’s gratitude to the Bank and its partners for producing the report with a special chapter on Public Resource Mobilization. He noted that while Africa’s GDP growth declined from 6% in 2006-2008 to 2.5% in 2009, Malawi’s economy showed remarkable resilience during the global economic and financial crisis which he attributed to sound governmental policies including the Farm Input Subsidy Programme.
In his welcome remarks, the AfDB Resident Representative in Malawi, Frank Kufakwandi, highlighted the relevance of “public resource mobilisation” the theme for the 2010 edition, emphasizing the need for African countries to improve their tax base to help reduce aid dependency.
The AEO Coordinator, Willi Leibfritz and the Malawi Country economist, Martha Phir, made presentations at the launch. Discussants at the workshop which followed included members of the private sector, academia, parliamentarians and senior government officials. Participants commended the Bank for providing “the first forum of its kind” that brought together, government officials, private sector representatives and researchers to discuss the report and what its findings mean for Malawi.