Chakwera upbeat on Malawi economy, Tonse govt ‘likiliki’ on policies on prospering together: Kwacha depreciation ‘ temporary’
President Lazarus Chakwera says Malawi economy has shown resilience despite Covid-19 and he is optimistic that it will recover as his administration is working on policies designed to reorient the governance framework from one that enriches a few individuals to one where all Malawians can prosper together.
He said such policies are in line with the third pillar of Super Hi-5 Agenda.
Commenting about the state of economy, Chakwera says Malawi’s economic outlook for 2021 “remains positive” with a GDP growth rate of 3.8 percent.
“Although headline inflation recorded an uptick to 8.3 percent last month, which is consistent with the nature of the transition we are in, it remains within the desired trajectory towards achieving a medium to long term inflation target of 5 percent,” he said.
“Even with respect to the exchange rate, I can assure you that the depreciation pressures it has experienced over the past few months are temporary. This is because we expect the supply of foreign exchange in this country to soon be bolstered by the commencement of the agriculture marketing season for our export crops, including tobacco and soya beans.,” he said.
Chakwera said his administration will be implementing policies across all Government Ministries, Departments, and Agencies (MDAs) to ensure that there is money in people’s pockets “in compliance with our Tonse Philosophy of shared prosperity.”
The President said this in his national address last Sunday as he is set to name his new Cabinet on Wednesday two months before clocking one year in office.
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If inflation has been 8.3% why is everything going up above/over 10% and 20% on fuel for that matter? It only vindicates banana leadership. Great to see ur supporters grinding their teeth!Paying the price for destroying Malawi during demos, enjoy guys!
The reality is that whether the tobacco sale have the ability to improve the kwacha is not know because other countries in the region are forecasting another increment in fuel in April. Secondly even if it does improve the kwacha, can you make a promise to reduce the prices of electricity and other items that have already gone up?. If not, then how exactly does the local Malawian benefit
awa ndi Mr Laplap. very eloquent but a dunderhead. tizidya chizungu champhuno chomwechi
Sizikuyenda because ur busy destroying the very foundations of the government itself nde zomati dikilani moto ukuyaka mmm ndakaika
He can say anything. He is not feeling the pinch.
Chonde khalani chete, Kukhala m’Malawi ndi mavuto akulu.
Chakwera’s mendaciloquence is clearly recognizable by every wise person.
Oh magufuli, where art though?
Wagwa nayo ameneyo with his family government. This is nepotism at its best. Where on earth would you find the whole family managing the Government? Nothing is moving now, where is tsogolo lowala, where is Malawi wokomera anthu onse? You thought we would not talk?