World Bank rates Malawi as world’s lowest Gross National Income: 51 years of independence

As Malawi celebrates 51 years of independence from Great Britain on Monday 6 July, the World Bank has stated in its latest global rankings based on per capita Gross National Income (GNI) that the country has the world’s lowest reported GNI per capita at US$250.

The World Bank said at the release of the country ratings: “Gross National Income per capita continues to show improved economic performance in many low-income countries.”

The World Bank noted the chasm between the poorest and richest nations: “Malawi has the world’s lowest reported GNI per capita at US$250, while Monaco has the highest, at more than US$100,000 – more than 400 times more per person than in Malawi.”

The bank also noted that poor nations like Malawi move only very slowly up the earnings brackets over the years: In 1990, the nation’s GNI per capita was US$180; 24 years later, it had grown by just US$70.

GNI is a broad-based measure of income generated by a nation’s residents from international and domestic activity.

World Bank chief economist and senior vice-president Kaushik Basu said: “GNI per capita measures the average amount of resources available to persons residing in a given economy, and reflects the average economic well-being of a population.

“While we need to measure development progress in different ways, income-based measures such as GNI remain the central yardstick for assessing economic performance.

Independence Day

Malawi’s 51st independence celebrations will take place at Kamuzu Stadium, with Zambia President Edgar Lungu and Kenya Deputy President William Ruto expected to be among senior foreign dignitaries gracing the event.

Former Mozambican President Joachim Chissano is also expected to join Malawians in the celebrations under the theme, toward transformation and inclusive development.

Minister of Finance, Economic Planning and Development Goodall Gondwe told reporters on Sunday that Government plans to spend about K300 million.

The Theme is in line with Malawi vision in trying to move the country moving forward in its development agenda countrywide and beyond.

“All this can be achieved if there is delivery of public services. In other 50 years to come, we would like to see Malawi being a producing and exporting country,” said Gondwe.

“This government is looking for unity among all Malawians and it is a function that everyone is supposed to come regardless of any affiliations,” said Gondwe.

Blantyre City Council (BCC) Mayor Noel Chalamanda was excited with government’s choice of Blantyre for the celebrations.

He said the city has iconic features like the Independence Ark, and promised to make it more beautiful with the Keep Blantyre Clean and Green Initiative.

“Despite facing much vandalism, Blantyre is still on the right track. May I ask anybody in the city to look for the infrastructures well? Vandalism has heavily affected BCC operations,” said Chalamanda adding that street lights have been a victim of vandalism in the city.

Later, Minister of Information Tourism and Culture Kondwani Nankhumwa and Blantyre Mayor Noel Chalamanda commissioned independence celebrations lights at the Clock Tower Round About.

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