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You are here:CategoriesBusinessAPM optimistic on improved economy

APM optimistic on improved economy

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His Excellency the President Professor Arthur Peter Mutharika has reiterated government’s effort of stirring the economy in the right direction.

President Mutharika speaking during an audience with religious leaders President Mutharika speaking during an audience with religious leaders
26
May

Speaking in audience with religious leaders from the Southern Region, Mutharika said the economy of the country is fast getting on track compared to 2014 when the Democratic Progressives Party – DPP took over government.


Mutharika said the inflation rate has dropped from 24 percent to 14.6 percent which is a good indicator and will offer opportunity for business people to borrow from commercial banks and pay back at a reasonable interest rate.


“The drop in inflation is an indication that our economy is right on track. This will improve and stabilise the economy. As government, we promise to work hard on the economy. This will not happen in a day but we know that we are getting there,” said President Mutharika.


Professor Mutharika said the youth are also a bigger part of the population and need to be empowered economically hence the introduction of the community colleges that will enable them acquire vocational skills and make them self-reliant.


Mutharika said his government is still in the process of constructing the remaining 16 community colleges and was optimistic that they may be complete and ready for use by next year as government has acquired funds that will see the completion of these colleges.


“In my campaign, I promised to introduce community technical colleges in every district and my government is fulfilling this promise. These technical colleges offer brick laying, carpentry and joinery, tailoring among others. We want our youths to be self-employed and improve their livelihoods while contributing to the economy of the country,” said Mutharika.


On corruption, the President repeated his call to anyone who has names of people that are involved in corrupt practices to come forth and present the names and said he will not shield anyone who will be involved in corruption.


Mutharika said he has observed that some people are offering construction contracts to companies that are not qualified and in the end construct substandard roads and he said he is seriously looking into that issue and if anyone is found to be offering contracts dubiously, the law will take its course on them.


The Malawi Leader then emphasized that government will continue to its best to minimise blackouts in the country.


“Many companies in the country need electricity to do their production and I know that frequent blackouts are deterrent to production and development. That is why we will use every available source of energy like solar, wind and coal to boost the ever increasing demand on electricity,” said President Mutharika.


He then urged the religious leaders to encourage their subjects to take part in the National Identification exercise that has rolled out this week so that they get their identity cards and are identified as citizens of this country.

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