Covid-19 disrupts foreign investment

By Mabuchi Chunga

An economic expert has said the country’s chance to boost foreign investment opportunities is suffering at the moment due to the Covid – 19 pandemic.

The expert Betchani Tchereni, of the University of Malawi’s Polytechnic, said that although there are some indicators that the economy is performing well such as a single figure overall inflation rate which stands 9.4 percent, there are some sectors that are not doing well.

He says due to economic uncertainty it is hard for people to use money and invest in any form of business because they are not aware of the outcome due to the pandemic.

“We are at a time when investors are very cautious to invest, and people are holding back to see what will happen after sometime,” said Tchereni.

Tchereni’s remarks come at a time when the country has experienced a constant trajectory on the overall inflation which has been in single digits for over a year.

This would otherwise be a joyous feature but due to the coronavirus it is proving hard to see the benefits of such figures.

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