It has declined by 4½ per cent of GDP, with twothirds of that on the export side, and the other third on the import side.
Allow me to begin by extending a very warm welcome to you all on behalf of the Government and the people of Malawi, and also on my own behalf. I wish to extend a warm welcome to the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) staff and resource persons.