ECAMA doubts Malawi’s GDP projection

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Economics Association of Malawi (ECAMA) has doubted the projections by Malawi minister of finance Goodall Gondwe that the country is to have a 5.1 percent growth in Gross Domestic Product (GDP).

During the 2016/17 budget presentation, finance minister Goodall Gondwe said Malawi is to increase its GDP by over 5 percent.

Henry Kachaje

Kachaje: Projections are doubtful.

Commenting on the projections through a Budget Analysis Forum in Blantyre, ECAMA President Henry Kachaje said the forecast is doubtful following hiccups that have marred the country’s economy.

“Last year, the country faced hunger and the people that were food insecure were about 2.8 million. This year, we are talking about half the population being food insecure which is about eight million people. This makes it difficult for an economy to grow at the said 5.1 percent,” said Kachaje.

He added that the situation on the ground has not changed that much as other macroeconomic indicators such as inflation and interest rates still remain high.

The country’s economy was seen to paralyse following the 2015 floods that were followed by El-Nino winds which led to persistent dry spells in most parts of the country.

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10 Comments

  1. Goodall Gondwe is trying to fool Malawians where on earth with such challenges our country facing currently and predicting 5.1%growth rate on GDP Daydreamers wake up check on the market and forex exchange rates.Malawi is in desasterial radical change Mr Goodall Gondwe #Things are hard.

  2. We Malawians sometimes need to understand things and ask where we aren’t clear. Are projections realities? I don’t think so; those are envisioned targets that can’t be realised automatically it all depends on the behaviour of internal and external forces that impact on an economic perfomance.

  3. Jst to impress shame for nothing ,,,, so sad indeed some othertm the trueth will reveal coz people they can feel ,see ,talk

  4. I Think The Minister Is Just Predicting Not What Will Happen But Its Very Sad If This Is On Political Reasons Coz Things Are Not Good At The Ground! Okay Let Us Wait And See The Possibility To What The Minister Said!

  5. its indeed of no dought that governmemnt is over exergerating the projections for political reasons…..its very disapointing and sad though!!!

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