Mutharika bullish on economic growth: ‘We have begun to take Malawi from poverty to prosperity’
President Peter Mutharika is maintaining his script about his success in turning around the economy of Malawi after he interited empty coffers from his predecessor Joyce Banda in 2014.
Mutharika, an international and constitutional law expert, has said his government took painful steps to stabilize the economy and the currency, the kwacha, and brought inflation down from a peak of 24 percent to single digit and reduced interest rates from 25 per cent to 16 per cent.
“There was no money because the previous government [of Joyce Banda] had engaged in massive looting of government resources [Cashgate].
“We inherited a deficit that was almost equal to our annual national budget. The country was going bankrupt,” said Mutharika when he was conferred with an honorary degree by Washington University Sunday.
The President said when he took power in 2014, he had to deal with devastating floods, a famine and a foreign-aid freeze.
“We had to run the country with our resources, and we did. In that tight and hard situation, we managed to turn around the economy,” said Mutharika.
Mutharika prides his administration of taking import cover from the lowest point to the highest point in Malawi’s economic history.
“Our import cover has risen from below 2 months to 6 months. We have made local currency stable and predictable,” he said.
Mutharika said his administration has also raised economic growth above the Sub-Saharan and IMF global average growth.
“I found GDP Growth Rate at 2.4 per cent when I started leading Malawi four years ago. Now we expect growth at 4 per cent in our 2018/2019 financial year. And we expect this growth to rise to 6 percent in 2019,” he said.
“I believe we have begun to take Malawi from poverty to prosperity,” said Mutharika and he paid tribute to all this progress to the people of Malawi, who he said have contributed greatly to his career.
Mutharika also talked about the inspiration he found in the United States, especially at Washington University.
“I have learnt many lessons from my time of being a professor in this place. And I have also learnt great lessons from the people of Malawi – lessons that define my leadership,” said Mutharika.
Mutharika said he has learnt to lead Malawi with “a passionate determination” to take it out of poverty and is upbeat to deliver.
President Mutharika officially received the Doctor of Humane Letters during a ceremony in Holmes Lounge attended by students, faculty, alumni and other guests of the University.
The event honoring Mutharika featured several speakers from the University, including Chancellor Mark Wrighton.
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Yes, the President is bullish when he speaks about his country’s economy, and what he says is bullshit.! Malawi has been down-graded by the World Bank and other economic experts, so what is APM boasting about? His audience in the USA are naïve if they believe everything he says. Mutharika is a first class musician when it comes to blowing his own trumpet in foreign lands where people are unable to verify the facts that he comes out with. The facts on the ground in Malawi speak for themselves and they plainly contradict what the President says.
Awa ndi A Malisechedi , zochitika zawo zolankhula zawo ndi za Maliseche basi
What is this language of finding empty confers when changing governing Party is the order of the day? U want to tell us that MRA stops collecting money & the outgoing Party has freedom to bag all our Account no1 money & take it either to Kapoloma or Domasi sure Malawians we tolarate this nonsense? Ndalama zathu azingogawana ngati masuku akunkhalango zoona ife tiri phwiii, onse ophunzira athu m’dziko muno tonse phwiii, ma Judge, ma Lawyer, ma CEO onse dziko muno osalankhulapo pa usiru umenewu?
Mr president don’t deceive the white that your country is moving towards prosperity. if were in Malawi you would have afraid GOD to what you are lying on the pulpit in Washington. a good leader do not castgate other political parties rather than preaching about development. we will see 2019 you cry as if you have received a message of death. we dont want people who are corrupt and sexsist. chamba eti a number of malawian are suffering but you care about them. ok
Lest we forget.
JB turned around a country that was on its knees, on the verge of becoming a failed banana state. Motorists were sleeping on ques in filling stations, sugar became a precious commodity, no forex in banks, etc.
Forget JB cashgate claims. If anything ndika chisoso chabe, the big cashgate log is in DPP’s eyes. Look, 5yrs down the line this DPP-led govt has miserably failed to account for the K570 billions cashgate. All that changes are figures and goal posts. Not to mention a series of other GATES (maizegate, food ration, Escom fuel, the list is ENDLESS.
This is total mockery to Malawians, in fact, poverty has worsened since 2014. Go in the villages and see, you’ll cry! Malisechewa angolubwalubwa because he is not told the truth, silly!!!
And you continue to loot kupitiriza pomwe Daniel Phiri anasiyira. Osamangonamizira JB apa prince of thieves iwe!
In fact Joice Banda has made a lot of Malawian lose their property to Banks with Kwacha devaluation matching with loan interest increase.Where in the world you find load agreed directly increase with currency devalution? Where in the world banks never accept loses ?Are these Banks for People or machinery for planet
how much was rooted in cashgate? If there was a president who inherited nothing then it was JB. The time Bingu died the country was on its knees. TheGood thing is that Mrs. Trump is here and people in America will see poverty in display at a school which Mrs. Trump visited this morning
Amazing how our president continues dreaming in colour!
Mr President, are you really living in Malawi?? People are experiencing the worst economic hardship ever since the dawn of independence. Mr President, please talk to the people directly especially in the rural areas and hear their stories. I believe after the much needed and long overdue engagement you will never ever utter the words you fondly let loose in your campaigns or at UNGA. Malawians are suffering despite the economic data you’re preaching as successes. If those numbers are indeed true then its only the few amwenye and Nigerians who are enjoying the benefits of the economic uptick. Ant kumudzi akuvutila and will be made worse with the increase in electricity tariffs and petrol. by the way, have you seen the photos of Melania Trump in your country sitting outside classrooms in the most atrocious conditions talking to a class of pupils. Mr President, you appealed to your audience at UNGA that political leaders need to invest in education especially the children and yet you have paid lip service to your own situation at home. Now these photos will go viral globally for everyone to see. malawi will be a laughing stock once more and yet you proudly think you have done a great deal for Malawi…..really????
Clear signs of dementia, prosperity for who? Your wife the Proffessor perhaps? I hear she Is pocketing millions from blantyre city assembly.
Koma guys mkulu uyu alibe manyazi
Prosperity is happening in the state house.
Mr. Maliseche muzipusitsa azungu komweko kuno aMalawi anazindikila,uziona pa 21may chaka cha mawa.
Malawians don’t want madala with no brain like you!
Adad you a my first choice just keep cool, my eyes have seen all what you have done to this Country, it’s true from POVERTY to PROSPERITY.
lol u must be on dpp payroll! What has he done he hasn’t used his own money he uses our taxes and been stealing our taxes!! His our last choice buddy
Anthu akunenedwa kuti ndi mfiti ndinu. No sane person can support this old dweeb called maliseche in the current despicable economic climate in Malawi. My heart bleeds when I hear forks like you supporting mediocrity. When the Malawi needs change, there are some daft people who do not have a vision. Change is not only for us, but for the future generations.
Only selfish corrupt people like Jamax would support the current regime. Shame. Kuzungulira mutu.
Shut up