President Peter Mutharika has said it is wrong to insinuate that the Malawian economy has collapsed, expressing optimism that something better could come out of the current economic challenges.
The President condemned his critics, saying it was impossible for the economy to collapse when the country was still recording economic growth even if it was slow.
“Malawi’s economy has not collapsed,” said Mutharika during a news conference at Sanjika Palace in Blantyre on the country’s participation at the Third India-Africa Forum Summit held in New Delhi, India.
“We are facing challenges, yes, but government is resolving them [the challenges] and to give an impression that the economy has collapsed is not good for the country,” the Malawi leader said.
Mutharika said he remains “optimistic” that Malawi will meet International Monetary Fund (IMF) requirements during its next economic programme review scheduled for December 2015.
“We will come on track in December. I am pleased to tell the nation that Minister of Finance is working on all theses to bring our economy back on track,” said Mutharika.
Meanwhile, the Finance Minister Goodall Gondwe is set to make a presentation on the current state of the economy.
The Minister, among other things, will highlight issues on government’s austerity measurers , budget revisions and the IMF programme.
Gondwe is giving assurance that Malawi shall navigate safely through these turbulent times.
He will make his case on how Lilongwe will reverse economic slow down, to bring stability, to restore confidence, and to return to a path of growth.