Malawi Government ANNUAL ECONOMIC REPORT 2017 Ministry of Finance, Economic Planning and Development 2 ANNUAL ECONOMIC REPORT 2017 Ministry of Finance, Economic Planning and Development Department of Economic Planning and Development P.O. Box 30136, Lilongwe 3. Telephone: (265) 1 788 888 Fax: (265) 1 788 247 E-mail:
[email protected] 4 TABLE OF CONTENTS CHAPTER . PAGE Chapter 1: The World Economic Outlook . 1 Chapter 2: Macroeconomic Performance in 2015 and Prospects for 2016 and 2017 . 7 Chapter 3: Agriculture and Natural Resources . 22 Chapter 4: Irrigation and Water Development . 43 Chapter 5: Transport and Public Infrastructure . 50 Chapter 6: Mining and Quarrying . 57 Chapter 7: Energy . 65 Chapter 8: Trade and Private Sector Development . 78 Chapter 9: Education . 93 Chapter 10: Tourism . 106 Chapter 11: Intergrated Rural Development . 111 Chapter 12: Public Health, Nutrition, HIV and Aids Management . 122 Chapter 13: Youth Development, Sports and Culture . 134 Chapter 14: Climate Change and the Environment . 140 Chapter 15: Employment, Gender, Community and Social Welfare . 149 Chapter 16: Social Support and Poverty Reduction Programmes . 163 Chapter 17: Public Enterprises . 166 Chapter 18: Banking and Finance . 190 Chapter 19: Public Finance . 193 6 Chapter 1 THE WORLD ECONOMIC OUTLOOK 1.1 International Economic Outloo k Global Gross Domestic Product (GDP) growth was estimated at 3.1 percent in 2016 from 3.2 percent in 2015. The growth is projected to pick up to 3.5 percent in 2017 and 3.6 percent in 2018. However, the impacts of the United States policies and Brexit on the global economy remain uncertain. 1.1.1 World Output Developments in 2016 Growth in advanced economies slowed down to 1.7 percent in 2016 from 2.1 percent in 2015.