Malawi President Peter Mutharika has said that the economy of the country is expected to be stable this year.
In his New Year message to Malawians, Mutharika asked people to adopt economic perception that will benefit the country at large.
“Let us come into the New Year with a positive economic mindset. For every problem, there is a solution. For every challenge, there is an opportunity. Most countries have built great economies out of ruins. The fact that you are faced with challenges is not a reason to be hopeless. After all, hope comes where there are challenges. And courage comes where there is fear,” Said Mutharika.
He noted that various economic estimates set by global financial institutions point to a more promising year for Malawi.
“Economists at the International Monetary Fund have projected that in 2017, the global economy will grow at the rate of 3.4% and the Malawian economy will exceed that and hit 5% growth. IMF also projects that inflation will make a drastic fall in Malawi.
“Let us continue working hard. Malawi is a land of opportunities and we should all be proud of that,” he said.
The Malawi leader singled out foreign direct investment as a key factor that will open up more opportunities for many Malawians in terms of job and wealth creation.
In 2016 Malawi registered FDI exceeding a 1 billion US dollars, according to estimates at Malawi Investment Trade Centre (MITC).
“I want to encourage my fellow Malawians to take advantage of the improved investment environment and invest,” Mutharika said.