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Malawi’s President Peter Mutharika has said that the country aims to reduce annual inflation to below 21% in 2026. Addressing lawmakers on Friday, Mutharika outlined targets to raise economic growth to 3.8% in 2026 and 4.9% in 2027, up from the 2.7% he said his administration inherited.
He noted that Malawi is negotiating a new support programme with the International Monetary Fund (IMF), restructuring its debt, and seeking to strengthen dwindling foreign reserves.
Mutharika, who returned to power following the September elections, further stated that his government is committed to reviving Malawi’s economy after years of crisis marked by foreign exchange shortages that have disrupted imports of fuel, fertiliser, and other essential goods.
The Southern African nation, heavily reliant on donor support, has struggled to contain inflation, which currently stands at 26% year-on-year and has exceeded 20% since mid-2022.
