{"id":6293,"date":"2021-09-20T07:11:46","date_gmt":"2021-09-20T07:11:46","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-economy-still-in-shoddy-state-expert"},"modified":"2021-09-21T07:40:04","modified_gmt":"2021-09-21T07:40:04","slug":"malawi-economy-still-in-shoddy-state-expert","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-economy-still-in-shoddy-state-expert","title":{"rendered":"Malawi economy still in shoddy state\u2014Expert"},"content":{"rendered":"

Africa-Press<\/a> – Malawi<\/a>. <\/strong><\/span>A University of Malawi economics professor, Ronald Mangani, has raised concerns that the country\u2019s economy remains sloppy, and has since suggested that it requires remodeling to get back to shape.<\/p>\n

The former secretary to the treasury said Malawi, which is grouped among the category of war-torn country as the world\u2019s poorest, is still trending towards fragility and failure, with no self-correction mechanism in sight.<\/p>\n

In his paper \u2018\u2018Remodeling the Economy into Shape: The Economic Chisels We Need\u2019 presented at the Institute of Chartered Accountants in Malawi (Icam) conference over the weekend, Mangani\u2019s argument augers with recent statistics, which show that, between 1994 and 2019, Malawi\u2019s annual real economic growth rates have averaged 4.3 percent, within striking distance of the country\u2019s population growth rate.<\/p>\n

\u201cDemographic pressure is our biggest risk factor,\u201d said Mangani, while projecting that the population would swell to 44 million people by 2025.<\/p>\n

He added: \u201cFactionalised elite, weak economy and poor public service are among key pressure points, while Covid is an additive factor to perpetual national crisis. Government should hastily intervene with policy direction towards efforts aimed at industrialising the economy.\u201d<\/p>\n

According to Mangani, trade liberalisation has killed local industries and jobs and that the \u201cgovernment watched helplessly as the economy nosedived.\u201d<\/p>\n

He said: \u201cTough decisions would have to be made on the role of the state, on financing the private sector investment and monetary policy, on financing public sector investment and on trade and foreign exchange earnings.\u201d Malawi has had both long and short-term development blueprints which have measurably failed to elevate the economy.<\/p>\n

For instance, the Vision 2020, which expired last year, was coined to direct the country towards reducing poverty but above 50.7 percent of the population are still living below the poverty line of $1.90 per day while 25 percent live in extreme poverty.<\/p>\n

Experts\u2019 reviews of the blueprint exposed Malawi\u2019s inability to achieve a middle income status with a per capita income of $1,000 (about $780,000) per year.<\/p>\n

Mangani said reversing the trend would take concerted efforts with the government still required to set the tone. \u201cThe worsening trend of fragility and impoverishment will not correct itself,\u201d he said.<\/p>\n

Speaking during opening of the Icam indaba earlier, Vice President Saulos Chilima called on accountants to join in the transformation of the country. He said the task of rebuilding the economy should be championed by disciplined professionals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. A University of Malawi economics professor, Ronald Mangani, has raised concerns that the country\u2019s economy remains sloppy, and has since suggested that it requires remodeling to get back to shape. The former secretary to the treasury said Malawi, which is grouped among the category of war-torn country as the world\u2019s poorest, is […]<\/p>\n","protected":false},"author":84,"featured_media":6292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,8],"tags":[233,371,234,2461,2462],"class_list":["post-6293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-malawi","tag-ronald-mangani","tag-university-of-malawi-economics-professor"],"yoast_head":"\nMalawi economy still in shoddy state\u2014Expert - Malawi<\/title>\n<meta name=\"description\" content=\"A University of Malawi economics professor, Ronald Mangani, has raised concerns that the country\u2019s economy remains slopp ...\" \/>\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\/malawi-economy-still-in-shoddy-state-expert\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Malawi economy still in shoddy state\u2014Expert\" \/>\n<meta property=\"og:description\" content=\"A University of Malawi economics professor, Ronald Mangani, has raised concerns that the country\u2019s economy remains slopp ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-economy-still-in-shoddy-state-expert\" \/>\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=\"2021-09-20T07:11:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-21T07:40:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/09\/img-61498c1690f97.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"759\" \/>\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=\"2 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\/malawi-economy-still-in-shoddy-state-expert#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-economy-still-in-shoddy-state-expert\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Malawi economy still in shoddy state\u2014Expert\",\"datePublished\":\"2021-09-20T07:11:46+00:00\",\"dateModified\":\"2021-09-21T07:40:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-economy-still-in-shoddy-state-expert\"},\"wordCount\":399,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-economy-still-in-shoddy-state-expert#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/09\/img-61498c1690f97.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\",\"Ronald Mangani\",\"University of Malawi economics professor\"],\"articleSection\":[\"all news\",\"files\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-economy-still-in-shoddy-state-expert#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-economy-still-in-shoddy-state-expert\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-economy-still-in-shoddy-state-expert\",\"name\":\"Malawi economy still in shoddy state\u2014Expert - 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