BLANTYRE (MalawiTalk) –Economic are predicting a drastic drop in revenue collection due to continued closure of companies.
Most companies are closing shop due to the impact of covid-19.
Other companies are downsizing their operations by retrenching workers.
This caution comes after the closure of Kanengo Tobacco Processing Limited and an announcement of routine retrenchment of workers in oil manufacturing companies due to what is being described as tough economic times.
Betchani Tchereni, an economic expert with the Polytechnic has said the situation projects economic woes that are likely to come due to the actions being undertaken by the companies.
With this, Tchereni has said it is likely that revenue collection will drop and that people will find it hard to meet costs of living due to be jobless.