Presidential aspirant, Milward Tobias, under the Mzika Coalition, says every individual who was born to be a leader of the nation should know that the power of a President lies in the economy.
Tobias said that the current state of the country only needs a leader whose vision is to develop the economy to the best of Malawi’s ability by exploiting the potential that the country has and promoting inclusivity and equity so that the survival, prosperity, as well as dignity, is for all people.
He added that as a presidential aspirant, he believes that the realities of the country’s economy must be a guiding principle in the choice of exchange rate system because it has been highly unstable and continuously weakening in the last four years and the trend is projected to continue up to 2025.
“Every result of foreign exchange auction has seen the Kwacha depreciating. In the last four years, the government has officially devalued the Kwacha twice, first in May 2022 with 25 percent and second in November 2023 with 44 percent. Mzika coalition has come to address all this,” he explained.
He says the party’s manifesto will implement the last five years of Malawi’s Vision 2063 first 10-year Implementation Plan (MIP-1) and Sustainable Development Goals.
On Policy framework, the presidential aspirant said that his government will approach fiscal consolidation from the perspective of growing tax revenue through a growing economy, creating jobs, and businesses, and rewarding markets for farmers on one hand and removing luxury as well as reducing unnecessary expenditures on the other hand.
Tobias stressed that they will consolidate without compromising its ability to deliver public services, which is the very objective of a government.
“On the issue of exchange rate, your next government will settle for an exchange rate system based on a technically sound assessment of its ability to spearhead economic growth and engender expansion of employment. This means that Malawians should expect a reduction in income inequality and an exchange system that achieves a stable, predictable, and resilient exchange rate,” he concluded.
