Economics Association of Malawi president Henry Kachaje says the economy of the country will be back on track in a few months.
Kachaje, however, said this will happen if the country receives good rains and it will also depend on the country’s economic policy.
”The stabilization of the economy is very important for Malawi and we must believe and pray that we receive good rains and it will also depend on the current economic policy,” said Kachaje.
Government and the International Monetary Fund (IMF) also said they are optimistic that the economy of the country will stabilise.
In a recent survey conducted by the IMF, it was revealed that reducing inflation is the most important policy for Malawi in building the economy of the country.
IMF also said high inflation is disturbing the growth of the country’s Gross Domestic Product (GDP) which averaged at 4 percent between 2012 and 2015 which is below the 7 percent targeted under the Millennium Development Goals.
However, minister of finance Goodall Gondwe says that the economy of the country is on track.
“We are on track though others say we can’t be on track and though our economy is fragile and dependent on agriculture, we will make it,” said Gondwe.
Meanwhile, ministry of finance spokesperson Nations Msowoya said the 2015/16 projection of the economy of the country will depend on agriculture production output.