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October 19, 2017

WHAT REALLY IS IN MALAWI’S SINGLE DIGIT INFLATION- SUFFERING OF COMMON MAN

By Zanele NGWIRA, Correspondent 19/10/17

The now bruised Democratic Progressive Party has all along sold Malawians a story that the country’s economy is doing just fine with inflation now in single digits.

For a common Malawian like those who overwhelmingly voted against DPP in October 17 by-elections, this talk of inflation is mere rhetoric.

Who wants to hear of inflation improvements when millions of people have no food or money in their homes? When millions of youths remain unemployed after finishing school?

Politics is a bad game especially when those who play it try to sell masses a dummy for their survival in office.

Top economists like Dr Ben Kalua, Dalitso Kubalasa and Henry Kachaje say the inflation touted by DPP government should not be believed as gospel truth because it is only temporary.

Food inflation is what looks better simply because last year’s yield was okay but non-food inflation is persistently stuck somewhere in double digits.

Our dear economists argue that any robust economy should not rely on temporary factors to determine inflation. Maize cereal is not a sustainable factor at all.

Government of Malawi must first make our economy responsive to sustainable investment, cut domestic borrowing and create sound policies towards improvement of livelihoods.

How can foreign investors come to create jobs for Malawians when a country is in blackout for almost 60% of the day?

It is certain that inflation will rise again to double digits anytime soon when people start preparing for another farming season. It is not sustainable at all.

However, for political survival Peter Mutharika must sell ‘inflation’ as salvation for Malawians but we all know it is not. People out there have no money, no jobs and no hope.

PETER MUTHARIKA

This is why even when Mutharika’s nephew Dalitso Kabambe who is Reserve Bank Governor tries his best to paint a rosy picture of the economy, people have still voted against the DPP enmasse.

No one is convinced with this regime and people are ready to vote Peter Mutharika out in 2019 whether inflation is in double or single digits.

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