PAC mad at Malawi’s economic growth projections

Fr. Peter Mulomole

The Public Affairs Committee (PAC) has blasted reports that Malawi’s economy is on track arguing that people in the country are still facing harsh economic environment.

The sentiments follow reports of economic growth for Malawi as projected by the International Monetary Fund (IMF).

The IMF disclosed that the country’s inflation rate stands at 16.1 percent, a development that gives hope for a better economy for Malawi. The Gross Domestic Production (GDP) was also projected to go up with rates of 4 to 5 percent after the 2016/17 farming season.

Fr. Peter Mulomole
Fr. Peter Mulomole says the projections are a bad reflection of the current situation.

However PAC has faulted the findings arguing that they do not reflect the status of the country’s economy.

Speaking in an interview with Malawi24, PAC publicity secretary Father Peter Mulomole said Malawi’s economy is in a bad shape as the citizenry are reported to be suffering due to high cost of living in the country.

“Those are book figures, look at the lives of people that’s development, are the lives of people changing? That’s development, you can balance books, we have done that before, look at the lives of people that’s a good measurement,” said Mulomole.

PAC has since disclosed that Malawi’s poor economy is as a result of “deep-rooted corruption and fraud” that have marred the country.

The religious body has called for a strong demand of accountability following cases of corruption such as Zambia- Malawi maize deal, tractor procurement, and Malawi Energy Regulatory Authority (MERA) scandal.