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.Follow and Subscribe Nyasa TV :