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2013-2017 - Malawi - Country Strategy Paper
After experiencing stable economic growth averaging 7.1% from 2006 to 2010; real GDP growth slowed to 4.3% in 2011. The high growth levels between 2006 and 2010 emanated from pro-growth policy reforms and programs implemented by the Government, as well as the Heavily Indebted Poor Countries (HIPC) debt relief, which resulted in a slight decline in poverty from 52.4% in 2005 to 50.7% in 2012. This fall in poverty levels, albeit marginal, underscores the need to consolidate the reforms for sustained and inclusive growth. Much of the economic slowdown after 2010 arose from the then Governments’ inconsistency in implementing macroeconomic and structural reforms. In addition, the country’s economy continues to narrow based; with agriculture as the main source of growth and exports. This underlines the need for more diversified and inclusive growth.