Economy to slow down to 2.6%–WB
The World Bank has projected that Malawi’s economy growth will slow down further to 2.6 percent in 2016 owing to food shortages induced by El Nino which has reduced crop production in most parts of the country.
The projection, contained in the third edition of the Malawi Economic Monitor report launched today is in sharp contrast to the Minister of Finance and Economic Planning Development, Goodall Gondwe’s, optimistic projection of 5.1 percent economic growth.
The World Bank has also warned that outcomes of the expenditure controls and improved fiscal and monetary policies which the government is implementing will not have an impact on the short term economic recovery in 2016 as a result of the El-Nino induced shocks the country is undergoing.
