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M W loses US $ 191million in natural resouces --stu

  1. Posted on Wednesday 15 September 2010 - 15:50
    Mabvuto kambuwe
    Image of Mabvuto kambuwe
    BY.Mabvuto Kambuwe,Africanews reporter in lilongwe


    Malawi is paying a high price of about US$191 million each year for unsustainable natural resource use, Malawi poverty and environment Initiative-economic study has revealed.

    The report which was unveiled in Lilongwe yesterday says the country could save millions revenues if natural resources are properly used.

    “Malawi pays a high price for the unsustainable natural resources use. The cost is equivalent to giving up to 5.3 percent of GDP each year. Malawi would be richer by US$191 million each year” says the report.

    The US $191 Million is more than the total funding allocated to the education sector and to the health sector in the 2009 national budget.

    “With a 10 percent discount rate ,the discounted value of unsustainable natural resources use over a decade amounts more than US$600 million in 2007 prices about US$200 for each house hold in Malawi “ says the report in part.

    The report says the largest costs result from the loss of Agricultural productivity as a result of soil degradation ,deforestation in catchments around main urban centres to supply firewood and charcoal ,unsustainable fishing and reduced economic activity caused by indoor air pollution.

    It also says there is compelling evidence that unsustainable natural resource management leads to increased poverty in Malawi.

    For instance the report reveals ,World Bank data from 1992 indicated average annual agricultural yield loss of 4 percent to 11 percent as a result of soil erosion ,while another report of 1995 estimated mean annual yield eight to 25 percent .

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