Malawians need to endure pain on road to economic recovery – Chakwera

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Malawians need to endure pain on road to economic recovery – Chakwera
Malawians need to endure pain on road to economic recovery – Chakwera

Africa-Press – Malawi. President Lazarus Chakwera says Malawians need to endure hardships as the country’s ailing economy is recovering. Chakwera made the remarks when he addressed the media this morning to update the country on the trips he undertook to Kenya, United Arab Emirates (UAE) and Scotland.

According to Chakwera, the sacrifices Malawians are paying is the fertiliser that the soil of Malawi’s economy needs and the investments and trade that his administration is working hard to bring into the economy are the seed being sowed for a future harvest.

“I am sincerely grateful for the patience and patriotism with which you are playing your part to see this difficult task done,” he said.

Over the past few months, there has been a sharp rise in prices of goods and services. The government through Malawi Energy Regulatory Authority also recently hiked fuel prices. State-owned water boards are also considering increasing water tariffs by 50 percent.

During the press briefing, the Malawi leader said this morning he met Reserve Bank of Malawi Governor Wilson Banda who presented recommendations on resuscitating the economy.

He added that there are also plans to consult business gurus and vendors on the plans which government wants to implement. “I am hopeful that things will improve and there are already indications that the Kwacha is recovering,” said Chakwera.

He, however, accused the previous administration under Democratic Progressive Party (DPP) of lying about the state of forex, inflation and debt in this country.

“That legacy of lies is over. And we are now in a season of confronting the truth head on,” said Chakwera. The Malawi leader visited Kenya, Dubai and Scotland between October 19 and November 5.

According to the Malawi leader, he has secured trade deals in Kenya and United Arab Emirates and Malawi is now running a trade deal with South Sudan. He added that during the climate change summit in Scotland, he was not shy to appeal for the much-needed Climate Change financing.

“I will continue to engage for mother Malawi and this explains why I have responded positively to the invitation by South African President Cyril Ramaphosa to attend the trade expo in that country. The trade expo will afford Malawi an opportunity to meet with Investors and financing institutions,” said Chakwera.

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