September 9, 2019 / 3:21 PM / 13 days ago

Malawi's economy to grow 5% in 2019 -finance minister

BLANTYRE, Sept 9 (Reuters) - Malawi forecast gross domestic product (GDP) will expand by 5% in 2019 and by 7% in 2020 as the return of rainfall after severe drought boosts agricultural production, Finance Minister Joseph Mwanamvekha said on Monday in an annual budget speech.

The small southern African nation’s economy is largely reliant on sales of tobacco, tea and sugarcane, and has seen growth slow in recent years due to an El Nino-induced drought, electricity shortages and political uncertainty. (Reporting by Frank Phiri Writing by Mfuneko Toyana Editing by Chris Reese)

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