Mutharika economics bearing fruits on paper

1

The economic policies of the Peter Mutharika led government seem to be bearing fruits on paper.

Currently, there has been a 13.5 percent drop to Malawi’s inflation over the past year, government says.

President Peter Mutharika

Malawi’s economy on right track

According to statistics posted by the Malawi Government official Facebook page, August 2017 has a headline inflation of 9.3 percent as compared to last year’s 22.8 percent.

It states that from July to August this year, inflation has dropped by 0.9 percent.

However, this comes at a time when Malawians are still complaining over the rise in the cost of living.

The current Democratic Progressive Party (DPP) regime in its budget presentation indicated it aims at hitting a single inflation digit.

In May this year, when the presentation was done in Parliament by Minister of Finance Goodall Gondwe the inflation was at 14.6 percent.

This followed an average of 21.8 percent in 2016.

In July this year, inflation was 12.2 percentage points better than the 23.5 percent recorded in July 2016.

In 2015 and 2016 Malawi had poor crop harvests due to drought and floods experienced in many parts of Malawi. This reduced growth in such sectors as manufacturing, energy and water supply but the economy began to recover late last year.

This year, the economy is expected to register an increased growth rate of 5 to 6 percent.

Share.

One Comment

  1. I, Kanyimbi would like to know what it means to bear fruits on Paper. I can testify that prices of Goods are not increasing (apart from the increase in price of beer), food price is low and even price of fuel is not increasing. ESCOM black outs not bad as was in the past. We must remember we are running the Government using our own resources.Even in heaven there were more demons but satan is the highest demon. DPP can be bad but not worse than the other parties. MCP, the worst demon.

Leave a Reply