{"id":11876,"date":"2021-12-21T14:50:02","date_gmt":"2021-12-21T14:50:02","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank"},"modified":"2021-12-21T15:07:20","modified_gmt":"2021-12-21T15:07:20","slug":"public-debt-worries-world-bank","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank","title":{"rendered":"Public debt worries World Bank"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>The World Bank has said it is worried with Malawi\u2019s growing budget deficit, which is worsening the already dire public debt stock currently hovering at K5.5 trillion or 59 percent of the GDP.<\/p>\n

World Bank Country Manager, Hugh Riddell, disclosed this in Lilongwe during the dissemination of the 14th Edition of the Malawi Economic Monitor (Mem): Addressing Macro and Gender Imbalances.<\/p>\n

Riddell said the country\u2019s budget deficit has been on the rise due to over optimistic revenue projections, \u201cAn increasing domestic debt burden has been further worsened by significant commercial borrowing to support the exchange rate, which has further increased debt vulnerabilities.<\/p>\n

\u201cThis is what we mean by imbalances \u2013 and it is a situation in which shocks are both more likely and harder to mitigate,\u201d Ridell said.<\/p>\n

The bank says the government must, therefore, act decisively to address mounting macroeconomic challenges, especially on the accumulation of domestic and external debt.<\/p>\n

This, the bank says, calls for hard decisions in the upcoming 2022\/23 budget, including on the Affordable Inputs Programme (AIP) and containment of expenditure on wages and goods and services, improving public financial management systems to make optimal use of limited resources, as well as strengthening oversight of state-owned enterprises.<\/p>\n

World Bank has also underscored the need to strengthen the oversight of key state-owned enterprises to reduce wasteful spending. \u201cReallocate resources to support the most vulnerable through well-targeted and efficient social safety nets.<\/p>\n

\u201cAnd of course, we stress the short term urgency to continue to accelerate vaccine access for all \u2013 helping to create a more resilient economy and a healthier, more productive population,\u201d Riddell said.<\/p>\n

Finance Minister Felix Mlusu, said the government is equally worried with the growing public debt but it is doing everything possible to reduce it. Among others, Mlusu said the government will in the next budget ensure that it only spends on priority areas.<\/p>\n

\u201cMost of the public debt we inherited from the previous regime. We are aware that the debt has been growing because our domestic resources are not enough to finance the needs. That is why recently we launched the Domestic Revenue Mobilisation Strategy aimed at boosting revenue mobilisation which will help reduce the budget deficit.<\/p>\n

\u201cAgain we want to ensure the operationalisation of the Debt Retirement Fund,\u201d Mlusu said.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. The World Bank has said it is worried with Malawi\u2019s growing budget deficit, which is worsening the already dire public debt stock currently hovering at K5.5 trillion or 59 percent of the GDP. World Bank Country Manager, Hugh Riddell, disclosed this in Lilongwe during the dissemination of the 14th Edition of the […]<\/p>\n","protected":false},"author":84,"featured_media":11875,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[233,371,234],"class_list":["post-11876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nPublic debt worries World Bank - Malawi<\/title>\n<meta name=\"description\" content=\"The World Bank has said it is worried with Malawi\u2019s growing budget deficit, which is worsening the already dire public d ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Public debt worries World Bank\" \/>\n<meta property=\"og:description\" content=\"The World Bank has said it is worried with Malawi\u2019s growing budget deficit, which is worsening the already dire public d ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-21T14:50:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-21T15:07:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c1ed718f3fa.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"673\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Public debt worries World Bank\",\"datePublished\":\"2021-12-21T14:50:02+00:00\",\"dateModified\":\"2021-12-21T15:07:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank\"},\"wordCount\":393,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c1ed718f3fa.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank\",\"name\":\"Public debt worries World Bank - Malawi\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c1ed718f3fa.jpg\",\"datePublished\":\"2021-12-21T14:50:02+00:00\",\"dateModified\":\"2021-12-21T15:07:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The World Bank has said it is worried with Malawi\u2019s growing budget deficit, which is worsening the already dire public d ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c1ed718f3fa.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c1ed718f3fa.jpg\",\"width\":720,\"height\":673,\"caption\":\"Public debt worries World Bank\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/malawi\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Public debt worries World Bank\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/\",\"name\":\"Malawi\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Public debt worries World Bank - Malawi","description":"The World Bank has said it is worried with Malawi\u2019s growing budget deficit, which is worsening the already dire public d ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank","og_locale":"en_US","og_type":"article","og_title":"Public debt worries World Bank","og_description":"The World Bank has said it is worried with Malawi\u2019s growing budget deficit, which is worsening the already dire public d ...","og_url":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank","og_site_name":"Malawi","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2021-12-21T14:50:02+00:00","article_modified_time":"2021-12-21T15:07:20+00:00","og_image":[{"width":720,"height":673,"url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c1ed718f3fa.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Public debt worries World Bank","datePublished":"2021-12-21T14:50:02+00:00","dateModified":"2021-12-21T15:07:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank"},"wordCount":393,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c1ed718f3fa.jpg","keywords":["Africa Press","Africa Press-Malawi","Malawi"],"articleSection":["all news","head lines","homepage-english","policy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank","url":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank","name":"Public debt worries World Bank - Malawi","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c1ed718f3fa.jpg","datePublished":"2021-12-21T14:50:02+00:00","dateModified":"2021-12-21T15:07:20+00:00","author":{"@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The World Bank has said it is worried with Malawi\u2019s growing budget deficit, which is worsening the already dire public d ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#primaryimage","url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c1ed718f3fa.jpg","contentUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/12\/img-61c1ed718f3fa.jpg","width":720,"height":673,"caption":"Public debt worries World Bank"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/public-debt-worries-world-bank#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/malawi\/"},{"@type":"ListItem","position":2,"name":"Public debt worries World Bank"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/malawi\/#website","url":"https:\/\/www.africa-press.net\/malawi\/","name":"Malawi","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/11876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/comments?post=11876"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/11876\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media\/11875"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media?parent=11876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/categories?post=11876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/tags?post=11876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}