Govt pleased to reduce borrowing

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The Malawi Government says it is happy that it has managed to reduce the amount of money it borrows from within the country.

According to spokesperson in the ministry of finance and economic planning, Nations Msowoya, domestic borrowing has fallen from 36.2 billion kwacha to 4.3 billion kwacha.

Nations Msowoya

Development is welcome: Msowoya

Msowoya said it is a welcome development and it has shown that government is willing to commit itself to fiscal discipline.

”This is a welcome development as it portrays that Malawi government is committed to fiscal discipline,” said Msowoya.

He added that when government borrows a lot from the domestic market, interest rate increases which lead to the rise of the cost of living.

”Economically what was happening is that the domestic borrowing was pushing up interest rates as government was competing with the private sector and this fuelled inflation,” he said.

Msowoya further said as one of the measures to stabilize the economy, government had to stick to the approved budget and to only spend money it received from Malawi Revenue Authority.

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24 Comments

  1. Komano chikanakhala bwino kut panopa akanaonjezera osachepetsa chifkwa cha mavuto osiyana-siyana omwe alipowa. Mkanachepetsabe after mutasovako zina ndi zina chifkwa panopa mavuto aluma ndithu or ma business athu akugwa anthu alibe kanthu. Anyway pot zachitika kale tingolimba mtima basi.!

  2. Ndiye mmalawi weniweni ameneyo osayamikira ayi, zikutanthauza kuti ka tax kathuka kakapita kuboma kakagwira ntchito yoyenelera koposa kuti kakapita pamene boma liri ndingongole zambiri zimakhala ngati tikutaya m’madzi kamba ka interest Rate

  3. Ndiye mmalawi weniweni ameneyo osayamikira ayi, zikutanthauza kuti ka tax kathuka kakapita kuboma kakagwira ntchito yoyenelera koposa kuti kakapita pamene boma liri ndingongole zambiri zimakhala ngati tikutaya m’madzi kamba ka interest Rate

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  6. Mr Msowoya, what I suggest to you is that you must have a platform where a layman like me can learn one or two on economic issues. From the tone of your reporting, it appears you are a policy maker rather than a government messenger sent to relay a message. For example, I have a problem with the last para but one:…….was competing with the private sector and this fuelled inflation. What are you portraying here? Was is good for government to do this? If your answer is on the last para, then you would not have exposed government’s excessive borrowing on the last para but one. Finally, which period are you referring to in para 2? Be blessed Mr Msowoya!