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.

Chakwera: I can assure you that the depreciation  pressures it has experienced over the past few months  are temporary.

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.

Follow and Subscribe Nyasa TV :

Sharing is caring!

Follow us in Twitter
9 Comments
newest
oldest most voted
Inline Feedbacks
View all comments
braveheart
braveheart
1 month ago

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!

MLALIKI
MLALIKI
1 month ago

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

Matako akana pansi
Matako akana pansi
1 month ago
Reply to  MLALIKI

awa ndi Mr Laplap. very eloquent but a dunderhead. tizidya chizungu champhuno chomwechi

Jah
Jah
1 month ago

Sizikuyenda because ur busy destroying the very foundations of the government itself nde zomati dikilani moto ukuyaka mmm ndakaika

Palivi
Palivi
1 month ago

He can say anything. He is not feeling the pinch.

Kanyimbi
Kanyimbi
1 month ago

Chonde khalani chete, Kukhala m’Malawi ndi mavuto akulu.

Zeze wachete
Zeze wachete
1 month ago

Chakwera’s mendaciloquence is clearly recognizable by every wise person.

Tchete
Tchete
1 month ago

Oh magufuli, where art though?

Jobasi Chikweche Ngozo
Reply to  Tchete

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?

shares
Read previous post:
Frustration to new teachers stay away: ‘concerned teachers’ against act, call it destructive 

Some teachers calling themselves "concerned teachers voice" say they are against the looming "second wave" of teachers stay away over...

Close