Mutharika prides himself over Malawi ‘success’ on economic front

Malawi President Peter Mutharika says Malawians should appreciate that his administration has put  effective economic strategies since he took over power in 2014 and said he was poised to will deliver all that he promised in the campaign.

Strictly presidential romantic dance: Malawi leader and his deputies with their spouses on Valentine day

Strictly presidential romantic dance: Malawi leader and his deputies with their spouses on Valentine day

He cited the reduction of fuel prices as a huge example of visible and tangible strides that his administration is making eight months after assuming power.

Mutharika was speaking in the capital Lilongwe on Saturday night during Valentines’ fundraising dinner and dance organized by his Democratic Progressive Party (DPP).

He said the economy is being well driven to boost growth.

“Our reserves [at the time I was taking over government] had only three to four weeks import cover in foreign exchange,” said the Mutharika adding; “We now have four to five months import cover; US$600 million at Reserve Bank of Malawi and about US$300 to US$400 million with commercial banks and forex bureaus which has led to the depreciation of the kwacha.”

He explained that it was the first time in Malawi’s history to achieve such economic success.

Mutharika, who came to power in May last year after defeating Joyce Banda in an election, has advocated for donations from the World Bank and other international donors in order to relieve the “almost bankrupt” country.

He said the decision to cut aid – after the Cashgate scandal – had contributed to the country’s economic hardship.

Malawi’s plight worsened in January when severe floods left more than 170 people dead and 200,000 homeless.

The Malawi leader pointed out, that some of the promises from the DPP manifesto had already been accomplished while other projects were underway.

“We have launched the Civil Service Reform Commission, subsidized cement and iron sheets, opened the Malawi University of Science and Technology (MUST),” said the President.

He added that construction of Mombera University in Mzimba district was underway.

Vice President Saulos Chilima had hailed President Mutharika as patient calm persistent and focused clarifying that those are the qualities that have made him pull through from campaign, through elections to the present success.

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zilipo
Guest

The president got the fuel thingy wrong – blatant lie befitting the brutal negative response on nyasatimes. Stitch up your mouth Mr President, Malawians are NO kids. I wish the President or his lieutenants read the responses here. I guess APM would be covering his face in embarrassment. ALL the people in this Government have NO heart for people. It’s an insult to the Malawian people on a grand scale to lie blatantly. Boma limeneli lili ndi anthu ozikonda. Can anyone tell me any person in this government who has the grassroots level reach?

Jang`ala
Guest

Asiyeni enawo azitokota enafe tili pa mbuyo panu bwana pitilizani ntchito yabwino mwayambayo

BOX 13 BILILA, N U
Guest

Tsitsani mitengo yazinthutu,ngati muli a economist za ziiii basi bozda losawona nalo nthawi big man ngati inu kkkkkkk!

Manzy j
Guest

Iwe ogo ndi kape wa makape onse padziko lino lapansi. Ichitsiru idiot ndiwe galu kwambiri umafuna apresidident azikupatsa ndalama? Iwe unganene president kuti idiot ugalu wanji umenewo? Wandipweteketsa mtima wamva. Ngati amakunyansansani osangochoka mmalawimuno bwanji? Nthawi yakampeni ija suma ima nawo bwanji ngati ndiwe wanjeru? Su idiot wako omwewo umakuopesa? Umaona ngati kutsogolera dziko lonse ndikofanana ndikutsogolera mpingo eti.

Chigawenga
Guest
Mr president you may think your honey moon is still in progress for us we say your honeymoon is over. You can parade and try to convince us that your administration has made great strides in improving our lives something which remains to be seen. Our country is still in a mess and your lack of transparency and accountability continues to tarnish our country’s image. Case in point, your brother made dubious deals with Mota Engil during his tenure. The deals included construction of Ndata farm at the expense of Malawian tax payers. Loyalties from Kayelekere mine were being deposited… Read more »
chotsani Phiri
Guest

Fuel dropped due to international petrol price drop.
How can a whole president LIE?

Hardson
Guest

Bravo Peter!

Nambewe
Guest

Mungomemesana basi

Macford M'bama
Guest

I think this economic strides is only political otherwise people struggle to find money. Very little money in circulation. May be because the President has everything for free thus why he is making noise.

We are really struggling Mr. President. Life is difficult.

Macford

Simeon Nyapala
Guest

I agree that fuel prices have gone down even at world level however with our situation is different coz the govt could have used that money to beef up the budget but this govt hasnt done that. I am sure we need to thank them for this. On

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