Africa-Press – Malawi. Second Vice-President Enock Chihana has said the government is committed to ensuring economic stability, describing it as key to long-term prosperity.
Chihana, who is also Alliance for Democracy (Aford) president, said this on the sidelines of a thanksgiving political rally he held at Nchalo Trading Centre in Chikwawa District.
He said Capital Hill was prioritising fuel, forex, food and fertiliser (four Fs) availability as a short-term measure to revamp the country’s economy.
“We have short-term, medium-term and long-term plans. In the short-term, we are focusing on the four Fs: food, fertiliser, forex and fuel. These are the areas we are working on to ensure that everything is in order.
“As of now, the government has bought maize from Zambia and locally, a development that will go a long way in tightening the country’s food security, ensuring that no one dies of hunger,” Chihana said.
The Aford president then commended President Peter Mutharika, who is also leader of the governing Democratic Progressive Party, for “honouring” alliance agreement terms.
One of the terms pertained to the appointment of Chihana as Second Vice-President.
Speaking earlier, DPP vice president for the Southern Region, Joseph Mwanamvekha, said the government would implement tight austerity measures and tighten the monetary policy.
Mwanamvekha, who is also Finance Minister, said a stable policy rate and increased loan beneficiaries would go a long way in stabilising the country’s economy and creating wealth for generations to come.
The development comes at a time the country’s economic indicators have been losing grip, evidenced by fiscal pressure, upward trajectory of inflation and public debt, among other ills.
For instance, the county’s public debt has been on an upward spiral, currently at K21.6 trillion, about 86 percent of gross domestic product, as government continues to depend heavily on borrowing.
Inflation has been on the same trajectory, seen at 28.7 percent as of September this year, according to statistics from the National Statistical Office.
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