Malawi Economic Justice Network (Mejn) says the country needs step up efforts in expanding its resource envelope in order to properly calculate activities that contribute to the economy.
MEJN Executive Director, Bertha Phiri, made the observation while commenting on the country’s debt levels and recurring budget deficits which currently characterize the nation’s economy.
Phiri said there are a lot of economic activities that are happening that could contribute to the economy as well as the Gross Domestic Product (GDP) and cushion the impacts of some of the economic shocks the country faces.
“All these effects are hitting us hard because there is little that we are counting into our GDP, yet there are a lot of economic activities that happening that could contribute to our economy and let alone the GDP.
“Such that these shocks should they be hitting us we wouldn’t have been feeling the effects so much,” Phiri said.
However, despite this being the case she says since the country is not accounting for the various economic activities in the GDP it is feeling the full pressure of different shocks the country faces.
In light of this she said investment should be done in sectors where it matters most so that the country’s economy is broadened.