June 12, 2020 / 12:24 PM / 20 days ago

Malawi to see negative growth in 2020 if coronavirus persists, says minister

JOHANNESBURG, June 12 (Reuters) - Malawi’s economy could shrink by 3.8% in 2020 in worst case scenario estimates, Finance Minister Joseph Mwanamvekha said on Friday during his budget address to the parliament.

Malawi, which recorded healthy growth of around 5% in 2019, has made two different projections based on how the impact of the coronavirus abates in the country.

Under the first case, its growth rate in 2020 may come down to 1.9%, Mwanamvekha said. (Reporting by Frank Phiri in Lilongwe, Writing by Promit Mukherjee in Johannesburg; Editing by Jon Boyle)

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