Malawi cuts 2025 growth forecast as inflation spurs street protests
BLANTYRE, Feb 28 (Reuters) - Malawi's government has trimmed its economic growth forecast for this year, its annual budget showed on Friday, as disgruntled citizens protested in major cities over rising prices.
The protesters are mostly street vendors who accuse the government of failing to control double-digit inflation, which they say is putting them out of business.
As their demonstrations have spread from the capital Lilongwe to the main commercial city Blantyre they have been joined on the streets by jobless youths unhappy with President Lazarus Chakwera's government.
Finance Minister Simplex Chithyola Banda said in his budget speech that the donor-dependent Southern African country's economy was expected to grow 3.2% in 2025, down from a forecast of 4.0% given in December.
Last year's growth was estimated at 1.8% because of the impact of a severe regional drought that dented agricultural output, the mainstay of the economy.
Annual inflation was 28.5% (MWCPIY=ECI), opens new tab in January, the latest month for which data is available.
($1 = 1,717.0200 kwacha)
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