By Twink Jones Gadama
The Democratic Progressive Party (DPP) has challenged President Lazarus Chakwera’s claims on the economy, accusing him of shifting blame onto the opposition and the business community.
In a press release issued yesterday, the DPP expressed deep concern over the President’s statements during the Presidential Question Time in Parliament, which they say lack foundation and appear to be an effort to avoid responsibility for the country’s current economic hardships.
According to the DPP, President Chakwera claimed that the opposition is working in concert with businesses to deliberately raise prices, and that the five individuals who drafted the Statement of the Nation Address (SONA) were opposition sympathizers.
The DPP has urged the President to refrain from making unsubstantiated claims and instead focus on finding solutions to the economic challenges facing Malawi.
The DPP has also highlighted the country’s economic woes, citing the depreciation of the Kwacha, which has lost 102% of its value since December 2020.
The official exchange rate is MWK 1,738 per USD, but on the parallel market, the rate has skyrocketed to MWK 5,000 per USD.
Prices have spiraled out of control, with inflation soaring from 8.6% in 2020 to 33.6% in 2024, making everyday goods unaffordable.
“A bag of maize is now MK120,000.00 from Mk7,500.00 in 2020,” the DPP noted. “Gross official reserves have plunged from $565 million in 2020 to only $133 million in 2024, covering less than a month of imports. Malawi’s total public debt has ballooned from 43% of GDP in 2020 to 85.4% in 2024.”
The DPP has proposed several solutions to address the economic crisis, including stabilizing the Kwacha through disciplined fiscal policies and attracting investment, unlocking forex reserves by fixing trade policies and eliminating corruption, and reviving agriculture with a transparent and efficient Affordable Inputs Programme.
“We call on all Malawians to demand real leadership and to reject misleading claims,” said Shadric Namalomba MP, National Publicity Secretary and Party Spokesperson. “The DPP will continue to provide alternative leadership and to hold the President accountable for his actions.”
The DPP’s challenge to President Chakwera’s economic claims comes amid growing concerns over the country’s economic situation.
Critics have accused the President of failing to address the economic challenges facing Malawi, and of instead blaming others for the problems.
The President’s SONA was also criticized for lacking clarity on the government’s plans to address the economic challenges facing the nation.
The DPP’s proposals for addressing the economic crisis are likely to be closely watched by Malawians, who are struggling to make ends meet amid rising prices and economic uncertainty.
The country is facing significant economic challenges, and urgent action is needed to address them.
