Malawi’s finance minister said on Friday that public debt had reached unsustainable levels above 90% of gross domestic product, threatening economic stability in the donor-dependent Southern African nation.<\/p>\n
Joseph Mwanamvekha also said in an annual budget speech that the country hoped to agree a new support programme with the International Monetary Fund “in the short to medium term” as part of efforts to get public finances back on track.<\/p>\n
Malawi has been mired in an economic crisis for years, with inflation running at an annual rate above 20% since the middle of 2022.<\/p>\n
This fiscal year’s budget deficit is projected to reach 11.9% of GDP, but the government wants to narrow it to about 9% next year, Mwanamvekha told lawmakers.<\/p>\n
Of the 23.9 trillion kwacha ($13.92 billion) public debt stock as of December last year, roughly 65% was domestic.<\/p>\n
Malawi’s government is seeking to restructure its domestic and external debt to create more fiscal space, he added, reiterating a 3.8% economic growth forecast for 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"
Malawi’s finance minister said on Friday that public debt had reached unsustainable levels above 90% of gross domestic product, threatening economic stability in the donor-dependent Southern African nation. Joseph Mwanamvekha also said in an annual budget speech that the country hoped to agree a new support programme with the International Monetary Fund “in the short […]<\/p>\n","protected":false},"author":6,"featured_media":10786,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":7,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Africa News","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,30],"tags":[274],"class_list":["post-20030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-southern-africa","tag-malawi"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=20030"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20030\/revisions"}],"predecessor-version":[{"id":20031,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20030\/revisions\/20031"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/10786"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=20030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=20030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=20030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}