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Analysts predict no policy shifts

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By Taonga Sabola:

ABOO—Interest rates have gone down

Business and economic commentators have predicted that Capital Hill would continue on the same economic pathway that has seen the economy showing signs of recovery in the past three years.

Malawians last week ushered back President Peter Mutharika into the high office.

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Property mogul, Faisal Aboo of Pacific Group, said expectations were high that the President would continue pursuing policies that have resulted in economic improvements.

“As private sector players, we have faith in the economic policies that were put in place.

“Interest rates have gone down, road infrastructure has greatly improved, electricity has been made available, the tax base has grown significantly, exchange rates have been very stable and there has been great effort put on the Green Belt Initiative and the list goes on,” Aboo said.

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He said the business community was expecting an energetic and technical, yet business-minde Catholic University Dean of Social Sciences, Gilbert Kachamba, said the fiscal and monetary policies pursued in the last three to four years had helped to bring about macroeconomic stability.

Kachamba said he saw no reason for the administration to shift away from the policies.

He was, however, quick to point out that Mutharika needs to work on improving the perception that people have about Malawi in as far as corruption is concerned.

Indigenous Businesses Association of Malawi President, Mike Mlombwa, said Malawians have high hopes in Mutharika.

He said Malawians expected the economy to keep improving and that interest rates as well as inflation would remain under control.

Speaking during his swearing in ceremony, Mutharika urged Malawians to unite and build a strong Malawi.

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