Malawi leader, President Peter Mutharika, has once again assured the nation that the country will by early next year achieve single digit inflation.<\/p>\n
Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of the currency is falling.<\/p>\n
Speaking during the opening of the 29th Malawi International Trade Fair (Mitf) on Wednesday, Mutharika said his government has lined up several policies that will see inflation going down further to single digit.<\/p>\n
\u201cIn 2014, the inflation was at 24 percent and today it stands at 14.6 percent. With the policies that we have put in place, by January or February next year, we should attain single digit inflation.<\/p>\n
\u201cWe will continue improving the economy so that we create a business environment conducive for businesses. We will continue implementing productive macroeconomic policies to bring down inflation and interest rates far lower than you can imagine,\u201d he said.<\/p>\n
Mutharika\u2019s sentiment follows, Minister of Finance, Goodall Gondwe\u2019s statement made last week when he presented the 2017\/18 national budget to Parliament.<\/p>\n
Gondwe said the current economic trends, will see inflation going down to single digit by next year.<\/p>\n
\u201cThe annual rate of inflation has been declining steadily in recent months, reaching 15.8 percent as of end-March, 2017. Mr. Speaker, Sir, this is the lowest level of inflation recorded in recent years and is mostly due to decrease in food prices, a relatively stable exchange rate, and lower international fuel prices.<\/p>\n
\u201cThis trend is expected to continue due to a favourable agriculture season we have had this year, and also due to expected decline in international prices for petroleum products,\u201d said Gondwe.<\/p>\n
Gondwe said the downward trajectory will provide scope for monetary policy to gradually start unwinding its tight stance, thereby allowing the economy to continue recovering.<\/p>\n
On his appointment as Reserve Bank Governor, Dalitso Kabambe, also said the current macro economic situation will see inflation going further down.<\/p>\n
\u201cI am getting back to work with the economic management team to ensure that the macro economy is sound and robust enough to support all economic activities of the country.<\/p>\n
\u201cLooking at the economy now, that inflation is slowly going down; it is the desire of the nation to see that inflation continues to go down to target the expectations which we have all shared, preferably a single digit inflation,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Malawi leader, President Peter Mutharika, has once again assured the nation that the country will by early next year achieve single digit inflation. Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of the currency is falling. Speaking during the opening of […]<\/p>\n","protected":false},"author":3,"featured_media":47086,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-47160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/47160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=47160"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/47160\/revisions"}],"predecessor-version":[{"id":47164,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/47160\/revisions\/47164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/47086"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=47160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=47160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=47160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}