President Peter Mutharika is scheduled to launch the Malawi Growth Development Strategy (MGDS) III, a national development blueprint on Tuesday in Lilongwe to accelerate growth and reduce poverty with a focus on improving the agricultural industry.
Spokesperson for Ministry of Finance, Economic Planning and Development, Davis Sado, said the strategyfocuses on spurring growth and removing barriers to development in agriculture, water development and climate change management; education and skills development; energy, industry and tourism development; transport and information and communications technology (ICT) infrastructure as well as health and population.
Sado said the MGDS III is supposed to run from 2017-2022.
Among other things, the strategy targets a further reduction in the inflation rate to seven percent to build a productive, competitive and resilient nation.
According to Sado, the new strategy is built around principles that aim at improving productivity, turning the country into a competitive nation and developing resilience to shocks and hazards.
About 65 percent of Malawi’s population of 12 million still live below poverty line and on less than a British Pound a day.
Development partners have fingered graft as a major cause of Malawi’s endemic poverty.
Malawi is also battling the murderous spread of the HIV/AIDS pandemic which has affected around 14 percent of the population and the ravages of drought and famine.