Minister of Finance Sosten Gwengwe says the country’s economy is improving tremendously following a slump due to effects of covid-19 pandemic, war in Ukraine and general world economic meltdown.
He told the media on Saturday that Malawi was now walking out of its challenges as things are now stabilizing on the economic front.
Finance Minister Gwengwe
He assured people that what the country has been going through will now be a thing of the past as situations that affected the economy such as COVID-19 are now gone.
“Since 2020 we had a very bumpy start as a new government but now things are falling in place, things are now getting much better, the outlook shows that things are stabilizing,” he said.
According to Gwengwe, he believes that the worst is behind and what is in front is manageable.
“Prices are still very high but we are following the global trends and we are encouraging people to still hang on, because what’s most important is the leadership not the politics that we are so used to,” he said.
Economic experts blame the escalating cost of living to the government’s decision to devaluate the Kwacha at once by 25 per cent to please the IMF who were expected to bring back the extended credit facility.
What has happened that shows the claimed improvement? General statements are not helpful