Tuesday, January 26, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

IMF forecasts 4.3 % growth for Malawi

by Johnny Kasalika
30/04/2012
in Business News
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

labour offc | The Nation OnlineThe International Monetary Fund (IMF) has forecast Malawi’s economic growth rate for 2012 at 4.3 percent which contrasts sharply with government’s projected 6.6 percent growth rate for the year.

RelatedHeadlines

Smuggling of flour, cooking oil rising, say traders

World bank touts Economic inclusion

Malawi trade balance to face continued pressure—firm

This means economic challenges in Malawi are likely to continue as standards of living for most people deteriorate.

In its April World Economic Outlook (WEO) released in Washington DC last week, IMF forecast that Malawi will attain an annual real GDP of 4.1 percent in 2013 and 2017, respectively.

A 4.1 percent GDP growth rate is lowest Malawi has achieved in a decade.

“This low growth rate forecast by IMF simply highlight more economic challenges our economy is facing and could result in more job losses in the medium to long-term,” said a government economist who opted for anonymity.

Experts generally agree that developing countries should at least grow by an average of six percent to reduce poverty.

IMF forecast comes a month after the Economic Intelligence Unit (EIU) in its March 2012 economic outlook also painted a gloomy picture for Malawi, saying growth will remain subdued in 2012 and 2013.

EIU attributed the slow growth forecast to low maize production, slow uranium production, cuts in foreign aid and foreign exchange cash shortages.

Last year, Malawi grew by six percent from an earlier estimated 6.9 percent shelved by reduced disposable income due to poor tobacco prices, scarcity of foreign exchange and intermittent power supply, according to Finance and Economic Planning Minister Dr Ken Lipenga’s mid-term review statement. In 2008, Malawi’s economic growth rate was estimated at 9.7 percent, a rate which was highly touted as the fastest growing economy after oil-rich Qatar.

Bumper yields of maize, which is Malawi’s staple food, has over the years supported the country’s economic growth pillars.

Growth rate has over the years averaged seven percent as a result of bumper maize harvest, thanks to the Farm Input Subsidy Programme (FISP) which government embraced in 2005.

But, recently,   the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) queried the declining trend in the country’s growth rates and described the basis of such growth rates as “shaky.”

Previous Post

Sadc experts adopt e-commerce strategy

Next Post

Is Malawi winning the malaria fight?

Related Posts

flour | The Nation Online
Business News

Smuggling of flour, cooking oil rising, say traders

January 25, 2021
graph 6 | The Nation Online
Business News

World bank touts Economic inclusion

January 25, 2021
Business News

Malawi trade balance to face continued pressure—firm

January 23, 2021
Next Post
The Nation Online Is Malawi winning the malaria fight?

Is Malawi winning the malaria fight?

Trending Stories

  • covid 2 | The Nation Online

    SA returnees in forced quarantine

    0 shares
    Share 0 Tweet 0
  • Tonse faulted on former presidents’ benefits

    0 shares
    Share 0 Tweet 0
  • Health workers not spared by Covid-19

    0 shares
    Share 0 Tweet 0
  • court rebuffs apm on frozen account

    0 shares
    Share 0 Tweet 0
  • Cometh the hour,Cometh the man

    0 shares
    Share 0 Tweet 0

Opinions and Columns

My Turn

Behaviour change key in Covid-19 fight

January 25, 2021
Emily Mkamanga

Citizens power brings change

January 24, 2021
Search Within

The rural farmer needs to take centre stage

January 24, 2021
My Thought

Spread hope not fear

January 24, 2021
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.