The Southern Africa Development Community (Sadc) has encouraged member states to start focusing on economic recovery as they continue fighting against further spread of coronavirus.
In its assessment of impact of the pandemic on economies in member states, Sadc says by December 2019, prospects remained mixed and murky.
According to Sadc, some member states made recommendable improvements in their fiscal positions but a majority of them were already grappling on debt management among other challenges.
The regional block has since, recommended that although Covid-19 is a health problem, member states should put much focus on economic prospects which remains susceptible to shocks.
“Member states should consider developing roadmaps and action plans that prioritise investments and channel scarce resources to identified economic sectors to resuscitate their economies, strengthen resilience and improve competitiveness,” reads part of the statement.
The recommendations are in line with views of local economic commentators who recently advised the Malawi government to consider crafting a recovery budget for the next financial year.
In an earlier interview, Employers Consultative Association of Malawi president, George Khaki, said strides towards recovery would have to be intensified as the pandemic has brought about devastating effects to most sectors of the economy.
The International Monetary Fund recently slashed Malawi’s Gross Domestic Product growth prospects from 5 percent to 1 percent due to the pandemic