{"id":12062,"date":"2021-12-23T16:51:19","date_gmt":"2021-12-23T16:51:19","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding"},"modified":"2021-12-23T17:12:20","modified_gmt":"2021-12-23T17:12:20","slug":"lazarus-chakwera-admits-economy-bleeding","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding","title":{"rendered":"Lazarus Chakwera admits economy bleeding"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>President Lazarus Chakwera yesterday wore a brave face and admitted that the economy is bleeding from four wounds which are slowly suffocating the economy.<\/p>\n

He said the local economy was bleeding from the wounds of structural limitations, gross imbalance between imports and exports, the Covid pandemic and government waste.<\/p>\n

Chakwera\u2019s admission came at a time Malawians have been taking to the streets of major cities over the past five weeks demanding solutions to economic hardships they are facing, including a sharp rise in consumer prices.<\/p>\n

The Malawi leader has since unveiled a K500 billion two-year Socio- Economic Recovery Plan (Serp) aimed at stimulating strategic parts of the economy to ensure that Malawi stays the course as regards the Malawi 2063 First 10-year Implementation Plan.<\/p>\n

He said, to address the problem of the trade deficit and its knock-on effect on inflation, the SERP has interventions to maintain the policy rate at 12 percent, with upcoming reviews to consider further reductions as macroeconomic fundamentals allow.<\/p>\n

\u201cIt also includes interventions to support private sector players plying their trade in productive sectors with great export potential, including commercial farming, manufacturing, mining and tourism.<\/p>\n

\u201cI must, therefore, appeal to Malawians in business to take advantage of these opportunities for support by venturing more into cross-border trade with countries like South Africa, Zambia, Zimbabwe, Angola, South Sudan, Ivory Coast and Botswana,\u201d Chakwera said.<\/p>\n

He observed that, in these countries, trade enquiries for Malawi\u2019s maize, sugar, soya, ground nuts, beans and rice had exceeded $300 million dollars. \u201cThe market is bountiful but the traders are few. We, therefore, need more Malawians entering the arena of cross-border trade to benefit from the stimulus interventions we will channel towards export promotion,\u201d Chakwera said.<\/p>\n

To heal the wound of government waste, Chakwera said the SERP would include digitalising service delivery of governance, health, education, procurements and payments to stop wastage of resources.<\/p>\n

He has since ordered all ministries to review their plans for local and international travel during the 2021-23 recovery period, as well as their plans for the procurement of new vehicles during that same period.<\/p>\n

Chakwera said while he has not added a single car to his convoy, but continues to use cars inherited from former president Peter Mutharika, and scaling down on his travel plans, he expects every ministry under his administration to do the same.<\/p>\n

\u201cSimilarly, through the office of the Attorney General, working with independent law enforcement agencies, my administration will not tolerate any of your taxes to be wasted on frivolous claims against the government by businesses whose main trade is inflating prices and extorting the State.<\/p>\n

\u201cI know that, during the previous administration, it had become fashionable to sue the government in the hopes of getting a big payout, but this culture has only impoverished our country as a whole,\u201d Chakwera said.<\/p>\n

Centre for Research and Consultancy Director Milward Tobias yesterday described the unveiling of the SERP as commendable as it would put all actors in perspective. Tobias said the plan had covered areas that are labour intensive. \u201cThey can, therefore, stimulate the economy quickly,\u201d he said.<\/p>\n

He said there were a number of construction projects listed as well as measures meant to stimulate businesses, small and medium enterprises on one hand and large scale enterprises on the other hand.<\/p>\n

Malawi University of Business and Applied Studies economist Betchani Tchereni said SERP had been long overdue. He was, however, quick to note that raising resources for SERP would not be an easy task, adding that the Minister of Finance would have to integrate the plan into the 2022-23 National Budget.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. President Lazarus Chakwera yesterday wore a brave face and admitted that the economy is bleeding from four wounds which are slowly suffocating the economy. He said the local economy was bleeding from the wounds of structural limitations, gross imbalance between imports and exports, the Covid pandemic and government waste. Chakwera\u2019s admission came […]<\/p>\n","protected":false},"author":84,"featured_media":12061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,371,234],"class_list":["post-12062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nLazarus Chakwera admits economy bleeding - Malawi<\/title>\n<meta name=\"description\" content=\"President Lazarus Chakwera yesterday wore a brave face and admitted that the economy is bleeding from four wounds which ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lazarus Chakwera admits economy bleeding\" \/>\n<meta property=\"og:description\" content=\"President Lazarus Chakwera yesterday wore a brave face and admitted that the economy is bleeding from four wounds which ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-23T16:51:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-23T17:12:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c4add720db0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"991\" \/>\n\t<meta property=\"og:image:height\" content=\"649\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Lazarus Chakwera admits economy bleeding\",\"datePublished\":\"2021-12-23T16:51:19+00:00\",\"dateModified\":\"2021-12-23T17:12:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding\"},\"wordCount\":613,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c4add720db0.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding\",\"name\":\"Lazarus Chakwera admits economy bleeding - Malawi\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c4add720db0.jpg\",\"datePublished\":\"2021-12-23T16:51:19+00:00\",\"dateModified\":\"2021-12-23T17:12:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"President Lazarus Chakwera yesterday wore a brave face and admitted that the economy is bleeding from four wounds which ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c4add720db0.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c4add720db0.jpg\",\"width\":991,\"height\":649,\"caption\":\"Lazarus Chakwera admits economy bleeding\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/malawi\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lazarus Chakwera admits economy bleeding\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/\",\"name\":\"Malawi\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Lazarus Chakwera admits economy bleeding - Malawi","description":"President Lazarus Chakwera yesterday wore a brave face and admitted that the economy is bleeding from four wounds which ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding","og_locale":"en_US","og_type":"article","og_title":"Lazarus Chakwera admits economy bleeding","og_description":"President Lazarus Chakwera yesterday wore a brave face and admitted that the economy is bleeding from four wounds which ...","og_url":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding","og_site_name":"Malawi","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2021-12-23T16:51:19+00:00","article_modified_time":"2021-12-23T17:12:20+00:00","og_image":[{"width":991,"height":649,"url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c4add720db0.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Lazarus Chakwera admits economy bleeding","datePublished":"2021-12-23T16:51:19+00:00","dateModified":"2021-12-23T17:12:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding"},"wordCount":613,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c4add720db0.jpg","keywords":["Africa Press","Africa Press-Malawi","Malawi"],"articleSection":["all news","economy","homepage-english"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding","url":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding","name":"Lazarus Chakwera admits economy bleeding - Malawi","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c4add720db0.jpg","datePublished":"2021-12-23T16:51:19+00:00","dateModified":"2021-12-23T17:12:20+00:00","author":{"@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"President Lazarus Chakwera yesterday wore a brave face and admitted that the economy is bleeding from four wounds which ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#primaryimage","url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c4add720db0.jpg","contentUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c4add720db0.jpg","width":991,"height":649,"caption":"Lazarus Chakwera admits economy bleeding"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/lazarus-chakwera-admits-economy-bleeding#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/malawi\/"},{"@type":"ListItem","position":2,"name":"Lazarus Chakwera admits economy bleeding"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/malawi\/#website","url":"https:\/\/www.africa-press.net\/malawi\/","name":"Malawi","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/12062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/comments?post=12062"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/12062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media\/12061"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media?parent=12062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/categories?post=12062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/tags?post=12062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}