Economic experts have emphasized the need to formalize some economic activities taking place in the country for government to increase its tax revenue base.
The emphasis from Dickson Nyirenda-an economics expert comes upon revelations that only nine percent of Malawi’s population is in the labor work force, with 91 % unemployed.
Nyirenda described the situation as worrisome saying this means majority of Malawi’s population are not contributing anything to the national economy.
However according to Nyirenda, most of these Malawians are able to survive because they are in informal work and has since proposed the need to formalize some of the activities for government to realize public revenue from the same.,
Meanwhile, employers have attributed slow progress in the labor sector to prevailing economic challenges Malawi is experiencing.
George Khakhi, Executive Director for Employers Consultative Association of Malawi-ECAM told MIJ FM that forex shortages, high inflation and fuel supply shortages have affected production and as a result companies have had to downsize their workforce.