Malawi Economic Monitor, June 2021 : Investing in Digital Transformation

Malawi was affected by a severe second wave of COVID-19 (coronavirus) cases starting in the last weeks of 2020. As a result, the Government declared a second 'State of National Disaster' and announced increased social distancing measures....

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Main Author:	World Bank
Format:	Report
Language:	English
Published:	World Bank, Lilongwe 2021
Subjects:	ECONOMIC GROWTH ECONOMIC RECESSION EXPORTS REMITTANCES FISCAL TRENDS DEBT MONETARY POLICY DIGITAL TRANSFORMATION CORONAVIRUS COVID-19 PANDEMIC IMPACT DIGITAL DIVIDE
Online Access:	http://documents.worldbank.org/curated/en/131501624458623473/Malawi-Economic-Monitor-Investing-in-Digital-Transformation http://hdl.handle.net/10986/35880

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recordtype	oai_dc
spelling	okr-10986-358802021-07-01T05:11:24Z Malawi Economic Monitor, June 2021 : Investing in Digital Transformation World Bank ECONOMIC GROWTH ECONOMIC RECESSION EXPORTS REMITTANCES FISCAL TRENDS DEBT MONETARY POLICY DIGITAL TRANSFORMATION CORONAVIRUS COVID-19 PANDEMIC IMPACT DIGITAL DIVIDE Malawi was affected by a severe second wave of COVID-19 (coronavirus) cases starting in the last weeks of 2020. As a result, the Government declared a second 'State of National Disaster' and announced increased social distancing measures. Case numbers peaked in January and gradually subsided through April, when restrictions were relaxed. Malawi received its first consignment of vaccination doses from COVAX in March, but uptake has been low, with around 400,000 doses administered to about 2 percent of the population as of mid-June. Growth in 2020 was strongly affected by the pandemic, falling to an estimated 0.8 percent, down from pre-pandemic projections of 4.8 percent. The pandemic’s impact on the services and industry sectors was partially offset by a strong agricultural harvest. Services and industry slumped amid the ongoing disruptions caused by the pandemic to global value chains and trade and logistics, decreases in tourism and remittances, and dampened demand due to social distancing measures. The accommodation and food services subsectors were the most affected, while information and communication services, and utilities performed well. Agricultural production estimates for 2021 are strong, but the pandemic will still weigh on economic activity. Maize production is expected to increase to 4.5 million tons, a 17 percent increase over 2020’s bumper harvest. Business sentiment is showing some improvement in early 2021 but is still below pre-pandemic levels. Some 46 percent of firms surveyed in February 2021 by the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) expect a positive performance for the year. This is an improvement from 31 percent in 2020 but remains short of pre-pandemic levels. 2021-06-30T20:17:03Z 2021-06-30T20:17:03Z 2021-06-23 Report http://documents.worldbank.org/curated/en/131501624458623473/Malawi-Economic-Monitor-Investing-in-Digital-Transformation http://hdl.handle.net/10986/35880 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Lilongwe Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling Africa Africa Eastern and Southern (AFE) Malawi
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ECONOMIC GROWTH ECONOMIC RECESSION EXPORTS REMITTANCES FISCAL TRENDS DEBT MONETARY POLICY DIGITAL TRANSFORMATION CORONAVIRUS COVID-19 PANDEMIC IMPACT DIGITAL DIVIDE
spellingShingle	ECONOMIC GROWTH ECONOMIC RECESSION EXPORTS REMITTANCES FISCAL TRENDS DEBT MONETARY POLICY DIGITAL TRANSFORMATION CORONAVIRUS COVID-19 PANDEMIC IMPACT DIGITAL DIVIDE World Bank Malawi Economic Monitor, June 2021 : Investing in Digital Transformation
geographic_facet	Africa Africa Eastern and Southern (AFE) Malawi
description	Malawi was affected by a severe second wave of COVID-19 (coronavirus) cases starting in the last weeks of 2020. As a result, the Government declared a second 'State of National Disaster' and announced increased social distancing measures. Case numbers peaked in January and gradually subsided through April, when restrictions were relaxed. Malawi received its first consignment of vaccination doses from COVAX in March, but uptake has been low, with around 400,000 doses administered to about 2 percent of the population as of mid-June. Growth in 2020 was strongly affected by the pandemic, falling to an estimated 0.8 percent, down from pre-pandemic projections of 4.8 percent. The pandemic’s impact on the services and industry sectors was partially offset by a strong agricultural harvest. Services and industry slumped amid the ongoing disruptions caused by the pandemic to global value chains and trade and logistics, decreases in tourism and remittances, and dampened demand due to social distancing measures. The accommodation and food services subsectors were the most affected, while information and communication services, and utilities performed well. Agricultural production estimates for 2021 are strong, but the pandemic will still weigh on economic activity. Maize production is expected to increase to 4.5 million tons, a 17 percent increase over 2020’s bumper harvest. Business sentiment is showing some improvement in early 2021 but is still below pre-pandemic levels. Some 46 percent of firms surveyed in February 2021 by the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) expect a positive performance for the year. This is an improvement from 31 percent in 2020 but remains short of pre-pandemic levels.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Malawi Economic Monitor, June 2021 : Investing in Digital Transformation
title_short	Malawi Economic Monitor, June 2021 : Investing in Digital Transformation
title_full	Malawi Economic Monitor, June 2021 : Investing in Digital Transformation
title_fullStr	Malawi Economic Monitor, June 2021 : Investing in Digital Transformation
title_full_unstemmed	Malawi Economic Monitor, June 2021 : Investing in Digital Transformation
title_sort	malawi economic monitor, june 2021 : investing in digital transformation
publisher	World Bank, Lilongwe
publishDate	2021
url	http://documents.worldbank.org/curated/en/131501624458623473/Malawi-Economic-Monitor-Investing-in-Digital-Transformation http://hdl.handle.net/10986/35880
_version_	1764483975591493632

Malawi Economic Monitor, June 2021 : Investing in Digital Transformation

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