Experts foresee stable economy - The Times Group Malawi

Experts foresee stable economy – The Times Group Malawi

Post was last updated: April 9, 2021

Lauryn Nyasulu

Local economic think-tank, the Economics Association of Malawi (Ecama) has said prospects for the remaining part of the year look generally positive owing to expected bumper yield and ease in Covid cases.

This is coming at a time the economy is said to have slowed in the first quarter of the year due to the Covid second wave.

Ecama President Lauryn Nyasulu said the country has seen a general increase in headline inflation as both food and non-food inflation continues to erode purchasing power.

“However, production estimates point to a possible bumper harvest which largely determines the performance of the economy. The coming in of Covid vaccines has also brought renewed hope as long as there will be speedy uptake of the same,” Nyasulu said.

But other commentators feel the recovery path could be riddled by low uptake of Covid vaccines in the country.

First bunch of the vaccine which arrived last month have 350,000 doses from the Covax facility, 100,000 doses from the African Union and 50,000 doses from the Indian government.

As of Wednesday this week, only 173, 830 people had been vaccinated, forcing government to invite anyone above 18 years to get a jab.

Chancellor College-based economist Jacob Mazalale said this could affect effort to contain the pandemic in the country, which in turn could derail recovery efforts.

“If people do not go for the vaccine, it means they are not protected and we will continue having Covid cases and that would affect steps towards full reopening of the economy,” Mazalale said.

In a separate interview, another economist from The Polytechnic Betchani Tchereni said the purpose of the vaccine is to create immunity which may not be achieved if people do not get their jabs.

“If people who have been vaccinated will be few it means we will not return to normalcy. Therefore, it is very important that people should be vaccinated because all these myths will not help in our economic recovery path,” he said.

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