Malawi ups 2021 growth forecast on falling coronavirus cases, better rains

Malawi upped its economic growth forecast for 2021 to 3.8%, from 3.5% seen in February, Finance Minister Felix Mlusu said in a full-year budget statement on Friday.

May 29, 2021 at 2:03 pm

Southern Africa's “sluggish performance reflects the continued economic stagnation in South Africa”, the bank said, with the region's largest economy, which holds national elections this year, predicted to grow 1.1% in 2024, up from 0.8% last year. File photo (andreypopov/123RF)

Malawi upped its economic growth forecast for 2021 to 3.8%, from 3.5% seen in February, Finance Minister Felix Mlusu said in a full-year budget statement on Friday.

Economic growth in the small southern African is seen at 5.4% in 2022. The agriculture and tourism reliant economy grew only 0.9% in 2020. In the statement, the finance minister said growth would be driven by declining Covid-19 cases and better-than-expected rainfall.

Reuters