Public debt rise worries MCCCI | The Times Group:
The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has expressed worry
over the growing levels of public debt in the country.
MCCCI Chief Executive Officer, Chancellor Kaferapanjira, was reacting to the recent rise in public
debt levels by 5.1 percent between the third and fourth quarters of 2017.
Latest figures from the Reserve Bank of Malawi (RBM) show that Malawi's public debt rose during
the fourth quarter of 2017 to hit K 2.470 trillion from K 2.352 trillion recorded in the third quarter.
External debt rose by K47.1 billion or 3.3 percent to Kl , 486.2 billion while domestic debt stock
increased by 7.9 percent to K984.7 billion at the end of the quarter.
Kaferapanjira rated the trends as unsustainable for the Malawi economy.
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