JB upbeat to turn around Malawi economy fast enough

Malawi President Joyce Banda on Sunday repeated her claims that administration policies are producing a robust economic recovery.

Speaking at the Martyrs’ Day commemoration in Nkhata-Bay district on Sunday, March 3, President Banda said her government was sleepless over turning around Malawi’s economy.

She said her government is implementing an inclusive and participatory economic reform program that is aimed at empowering those at the grassroot.

“Economically, from 7th April years back Malawians cannot be said to have enjoyed their economic rights and freedoms which they fought for. This is time to rise up and uplift the people’s economic status,” said President Banda.

JB upbeat to turn around Malawi economy fast enough
JB upbeat to turn around Malawi economy fast enough

The Malawi leader said she has created an all-inclusive government with other political parties “to formulate administration towards a collective need to get into people’s homes through agriculture, through employment, and other avenues. It saddens me that the rich get richer, the poor poorer, but this will transform our lives for the betterment of all.”

She pointed out that her administration has initiated reforms in the agricultural sector aimed at diversifying the economy, introduced a two cropping seasons per year and has also launched a number of pro –poor programmes like ‘A Cow a Family’.

Banda also said her government has expanded Small Scale Irrigation and a Cooperative Movement for youth and women.

She said her People’s Party government has    realigned the energy sector to overcome blackouts and broaden the delivery of electricity.

“We have refocused the mining sector to lay the foundation for industrialization and increase foreign earnings,” she said.

“My Government has also lined up infrastructure projects in roads, rail and air to reduce cost of doing business and increase accessibility to the market.

“We have repositioned tourism to make Malawi a global tourist destination, create jobs and earn foreign exchange.”

President Banda said in all this, the underlying principle for her government is that “Malawians must be the primary beneficiaries of our national resources.”

The Head of State said Malawi attained political emancipation but fight for economic emancipation “is by all standards and measure far from being won.”

She observed that “49 years down the line of self-rule and political independence, very little progress has been achieved in the fight against poverty.”

Adding: “The majority of our people, particularly in the rural and semi urban areas continue to live in unacceptable conditions. It is against this background that my government is reconstructing and restructuring the country’s economic philosophy.”

President Banda introduced reforms I after taking over power from late president Bingu wa Mutharika last April  and has restored stability after inheriting a crisis characterised by foreign exchange shortages that crippled key imports such as fuel.

Economic experts both local and international, says Banda’s economic recovery plan has set a foundation for improved growth.

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