LILONGWE-(MaraviPost)-The UTM leader Dr Dalitso Kabambe has promised to fix the current Malawi ailing economy within nine months if voted into power come September 16, this year.
Dr Kabambe observes that nepotism, corruption, and the absence of proper fiscal, monetary, and exchange rate policies are driving the country’s economic instability.
Kabambe says corruption in Malawi has reached alarming levels.
He observes further that many people have amassed wealth within a short period, which can only be explained by corruption.
Kabambe says the entire government procurement system has turned into a criminal enterprise, where getting contracts now requires political connections or payment of bribes.
He says the government’s continued borrowing has crippled the private sector, which is supposed to be the engine of the country’s economy.
Kabambe adds that the dollar on the parallel market has reached 3,500 Kwacha.
He says this has been caused by the unavailability of forex in formal sectors, leading to the misalignment of the exchange rate.
Kabambe says many people are now turning to the black market because it offers better rates.
The UTM leader disputes the notion of devaluating local currency for alignment against blackmarket.
He said UTM leadership will not devaluate the Malawi within five years of running affairs of the state.
Dr Kabambe observes that wage bill is also shocking Malawi economy citing State House whose budget is pegged at over MK100 billion from MK30 billion in 2020.
He therefore proposed less workforce for wage bill reduction.
“With all factors in our hands, UTM government will fix Malawi ailing economy with nine months. It’s practical and possible way of economic recovery when monetary, fiscal and exchange rate are reset from three to nine months.
“This is possible as we have what it takes to revive the lost Malawi’s economy glory. So, Malawians must give UTM to govern with zeal for better come September 16, this year”, assures Dr Kabambe.
