COVID-19 to hit revenue (The Nation)

The Nation (Malawi) published an article on how the Treasury could lose between K128 billion and K179 billion in domestic revenue in the 2020/21 financial year due to the impact of the Covid-19 pandemic, which is a projection from IFPRI contained in IFPRI’s April 2021 Update on the Short-Term Impacts of COVID-19 on the Malawi Economy. According to IFPRI, people in the bottom three income quintiles have experienced per capita incomes losses of 13 to 14 percent during the first two months of social distances, which translate into increases in the poverty rate (using the national poverty line) of 6.5 and 6.7 percentage points (from 51 to around 57.5 percent) in the second quarter of 2020 or an additional 1.6 million poor people.