Malawi’s economy is expected to grow by 4.5% this year, driven by boosted agricultural production, the International Monetary Fund -IMF- said in a statement this week.
The southeastern African country has implemented a recovery strategy which includes the reconstruction of infrastructure after the cyclone Idai, and the resumption of sales of tea, tobacco, and sugarcane which were slowed due to El Nino.
“Over the medium term, growth could rise further to 6-7%, backed by greater access to finance, crop diversification, an improved business climate, and more resilient infrastructure, including improved electricity generation,” the IMF said.
Let’s, however, note that the new growth forecast is slightly down the 5% estimated in March.
Moutiou Adjibi Nourou