Minister of Finance Goodall Gondwe has been caught lying over Malawi’s debt levels.
In December, Gondwe told Parliament that the country’s debt is at K2.4 trillion including a domestic debt of K1.1 trillion.
The minister also claimed that the national debt is just over 25 percent of the country’s Gross Domestic Product (GDP). He said the debt is manageable and Malawians “should begin to get worried if the debt exceeds 45 per cent of the GDP.”
However, social commentator Onjezani Kenani has noted that the minister was not telling the truth and the national debt could be higher.
“On 6 December, finance minister Goodall Gondwe told us that the national debt is slightly over 25 per cent of the GDP. He said then, “We should begin to get worried if the debt exceeds 45 per cent of the GDP.”
“Now, in this week’s edition of The Economist, they say Malawi’s debt is between 50 and 75 per cent of the GDP. And this is only external debt. Add domestic borrowing, we could very well be 100 per cent of GDP in debt. Is Gondwe telling us lies? If so, why?” wrote Kenani on Facebook.
Economic analysts have recently been warning government over its appetite for borrowing saying government should only borrow for essential services.
But last month Gondwe dismissed claims that government likes to borrow saying the current administration is planning to reduce debt by repaying some of it and by progressively reducing the annual additions to the domestic debt.
He is old enough not to be a minister but keep grandchildren at home
What I find funny is that despite the fact that it’s common knowledge that a number of characters in the DPP (and all other parties given a chance) are shady but we keep voting them back in. We should stop exposing these shady characters as it is time for action. From now on let’s just give the public some insight as to how they can save themselves from rogue individuals. We the populace are the ones to blame. We always hope that these (corrupt) politicians will by some miracle change colours……no they won’t. That’s who they are; thieves with no morals.
I even wonder why the hell is DPP is keeping him like this, they are gaining a lot from him, they have done a lot dirt’s , am sure its not just that, if taken to task he will definitely disclose his mischiefs
Dziko la Malawi ndi losauka komanso atsogoleri athu ndiopa mitima sawelenga za munthu koma kuba basi
Dziko lomvesa chisoni kwambiri silizatukuka chifukwa aliyense akufuna kuba basi
Achinyamata amene muli ophunzira bwino please wake up and rule Malawi
Palibe tsogolo labwino pa Malawi
Mbava zokha zokha anthu ndikumasauka
Ndizosadabwisa kuona anthu akuthawila Maiko akunja chifukwa cha utsogoleri wanu oipa ndi wankhaza
Akakalamba mungammange akufuna mpana afele pompo?achoke bx
Pweeee! Unandicheka admin ndimaganiza mwachangu :v
what’s the difference between Satan and Lucifer? Maybe we can also differentiate between Goodall and DPP
Ukulu ukulu kkk uzingoti psetsa mtima daily. Vutoso akukana kupanga resign sinanga ubongo wabwela ku umwana u know how child is like.
Munthu akamakalamba mutu sumagwira bwino bwino. Akakula zimangofunika kumakafunsako nzeru ngati ziri zopoira kuzisiya. Ntchito agwira nthawi yaitali akapume atopa!
Too old to manage finance in modern world.
even abwana akewo kkkkkkk
he is old enough to step down please