Malawi
Malawi is one of Africa’s most impoverished countries, and faces significant macro-and socio-economic challenges. Corruption perceptions harm the economy further by keeping donor nations away.
We expect economic growth to pick up from 3.5% in 2018 to 3.7% this year as improved weather conditions should bolster agricultural production in spite of the country being hit by Cyclone Idai. Downside risks to growth are low average tobacco prices seen thus far during the current tobacco season and supply side factors keeping international oil prices relatively high. Long-run economic growth prospects remain uncertain as the country remains heavily dependent on the weather-vulnerable agricultural sector. Malawi completed another closely contested and ultimately disputed set of elections in late May. President Peter Mutharika of the Democratic Progressive Party won a second term in a narrow victory. As expected, the set of elections was largely peaceful and credible, despite its flaws, and reflect the will of the Malawian people. (Source: Malawi Quarterly Update, published June 2019.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-7.1 |
|
Consumer Price Index (% change y-o-y, avg) |
9.2 |
|
Current Account Balance (as a % of GDP) |
-15.3 |
|
Real GDP (annual % change) |
3.5 |
|
GDP per Capita, US$ |
369.4 |
|
Import Cover (months) |
3.9 |
|
Population, million |
19.2 |
| Total External Debt (as a % of GDP) |
34.0 |