November 10, 2017 / 11:39 AM / 9 months ago

Malawi's 2017 economic growth seen higher than 5.5 percent: president

LILONGWE (Reuters) - Malawi’s economic growth for this year is likely to exceed 5.5 percent, President Peter Mutharika said in a speech on Friday.

Malawi President Arthur Peter Mutharika addresses the 72nd United Nations General Assembly at U.N. headquarters in New York, U.S., September 20, 2017. REUTERS/Lucas Jackson

Speaking shortly after the president’s speech, the country’s Finance Minister Goodall Gondwe told Reuters the expansion would beat a forecast of 5 percent GDP growth given by the International Monetary Fund earlier this year.

Gondwe said the growth in a country where agriculture is a pillar of the economy was driven by continued favourable weather conditions and a bumper crop of 3.5 million tonnes of maize in 2017 up from last year’s 2.4 million tonnes.

Reporting by Mabvuto Banda; Editing by James Macharia

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