As Malawians continue to experience the economic down turn due to the loss of value of the Kwacha against major foreign currency, Minister of Finance and Economic Development Goodall Gondwe has said the country’s economy will recover by the same time next year.

Gondwe said this on Tuesday during media briefing in the capital Lilongwe after signing an agreement with the World Bank of a US$75 million injection towards social protection.

In his remarks, Gondwe said the challenges that the country is passing through was never expected.

“By the end of this financial year, you’ll be clapping hands for government but it requires you and me to work extra hard,” said Gondwe.

On depreciation of the local currency, Gondwe said all of Malawi’s neighbours have passed thorough sharp depreciation of their currencies and that Malawi should learn to adjust to such situations.

Recently, Catholic Commission for Justice and Peace (CCJP) issued a statement accusing the Democratic Progressive Party (DPP) administration for “cooking” up economic figure to paint a picture as if there is growth while people continue to be impoverished.

“There are growing levels of poverty, desperation, hunger and shrinking public service delivery that are untimely and quality compromised,” reads in part the statement.

CCJP then urged Mutharika’s administration to give the nation the “right information “ so that diversified strategies can be explored to improve the lives of the majority poor Malawians.