To attain the MIP-1 overall target of becoming a middle- income economy, in real gross domestic product (GDP) terms, Malawi needed to be growing by at least 6 percent annually within 10 years.
It required pushing its per capita income to above $1,000, and developing secondary cities that are anchored by economic activities to spread opportunities across. Yet, in the past five years, GDP has averaged 2.3 percent, with the economy growing by 4.56 percent in 2021 before plummeting to 0.92 percent in 2022. The rebound expected in 2023 and 2024 never came, with growth hovering below two percent.
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