His Excellency Dr Lazarus McCarthy Chakwera says there are encouraging signs that the economy is steadily recovering from various devastating shocks over the past two years due to the Covid 19 pandemic and natural disasters.
President Chakwera was speaking on Thursday at the official opening of the 32nd Malawi International Trade Fair at Chichiri Trade Fair Grounds in Blantyre.
The Malawi leader said looking at the economic signs that have been noticed in the recent months, the economy would have been recovered sooner than expected as some signs of the sick economy are gradually disappearing.
“In view of these things, I have no doubt in my mind that even though the economy is a patient still under treatment, the sign of recovery is beginning to emerge as one symptom after another is starting to subside. And I also have no doubts in my mind that over the next few months, enough symptoms will subside to the point of allowing the patient to run towards prosperity at great speed,” said President Chakwera.
The President stressed that his administration inherited an already sick economy characterized by the rising unemployment and closure of businesses.
“As you all know, Malawi’s economy has been sick and bedridden for a long time. When I took office, the symptoms of our economy’s chronic illness and multiple organ failure were everywhere: Four million people were unemployed and stampeding each other in the parking lot of any place offering a few jobs; businesses had been crossing across our cities for many months.”
The Malawi International Trade Fair is an annual trade fixture that provides a platform to local and foreign companies to exhibit their products and services and network amongst themselves.
This year 198 companies from Malawi, Mozambique, India, Zimbabwe, Zambia and Tanzania are taking part in the annual event.