President Peter Mutharika has challenged economists in the country to come up with workable solutions to deal with economic problems of the country than preaching doom.
Mutharika said this Thursday in Mangochi when he opened Economists Association of Malawi (Ecama) annual general meeting.
“Bring forward solutions that would inspire the nation than preaching doom,” said Mutharika to the professional delegates.
He said economists should strive to portray the economic situation in a way that inspires not in a way that leaves Malawians hopeless.
Mutharika said his government is set to take the right actions.
“We have no choice but to keep pushing forward peddles of the economy. And we are aggressively pursuing the Public Sector Reforms, including those on Public Finance Management. It is time to make the people trust their government. Give me the right advice, and I will give you the right decisions. Give us the best advice, and we will take the best of the actions. In that collective spirit, Malawi cannot fail,” said Mutharika.
“The economic reality is not as bad as some people want us believe,” said Mutharika.
In parliament though, Mutharika painted a gloomy future for Malawi, saying it will take time for the economy to bounce back to its old glory.
He said the present economic situation is a culmination of long history and some major external shocks that include floods and drought which are unavoidable.
The Malawi leader said the plunder of public resources in the infamous cashgate worsened the situation.
He said the loss of 40 percent of budgetary support from donors that would have been pumped into the economy knocked down the already fragile situation putting Malawi on a sick bed.
However, Mutharika said the situation would improve soon.
And speaking in Blantyre recently Mutharika claimed the economy would pick up in December or January next year a prediction that has been highly disputed by some economists.
In his address to the economists, Mutharika said the fundamentals of the economy are “ stronger today than they were 12 months ago.”
He said: “ Certainly, headline inflation is high granted the 24.1 percent as at September 2015; yes, 1.1 percent higher than the previous month. But, this is only 0.4percent higher than the same period last year. If you look at the numbers closely, on a year-on-year basis, it is the food inflation which is hitting us so hard now.”
Mutharika appealed to ECAMA to continue playing a positive advisory role on economic issues for Malawians to benefit from association’s services.
ECAMA is a forum of economists in Malawi and other interested parties that analyse economic-related issues and provide evidence-based policy advice that aims at improving economic management.
It was formally launched in 1999 as a voluntary membership organisation comprising a pool of professional economists from across the country and abroad.Follow and Subscribe Nyasa TV :