SADC economic growth report ranks Malawi 2nd in the SADC region

MCDONALD BAMUSI

President Bingu wa Mutharika returned home yesterday afternoon from the
28th summit of SADC heads of state and government that was held in
Johannesburg, South Africa.

The President was met on arrival at Kamuzu International Airport by top
governmental officials that included Minister of Transport and Public
Works Henry Chimunthu Banda, Health Minister Khumbo Kachali and
Information and Civic Education Minister Patricia Kaliati among others.

A multitude of jubilant women and traditional dancers thronged the
airport to welcome the Malawi leader who could not resist greeting them
soon after inspecting a guard of honour mounted by the First Battalion
of the Malawi Rifles.

Media reports from Johannesburg indicate Malawi has been rated among the best economic performer in the SADC region.

“Considerable progress has been made in attaining reasonable levels of
economic growth in the region with economic growth remaining strong
while inflation continuing to go down.

“Most countries have recorded positive growth for five consecutive
years and substantial economic growth is registered in Angola with 19.8
percent, followed by Malawi, Mozambique and Tanzania,” reads part of a
report from the summit.

However, the SADC secretariat noted that updates for various countries
in the region show that the level attained in economic growth falls
short of the regional target for 2008 which was set at seven percent.

“The majority of SADC member states have witnessed improvements in
fiscal performance with declining fiscal deficits which are the results
of pursuing fiscal policies and the initiative of the Highly Indebted
Poor Countries, which are benefiting the member states,” says the
report.