Malawi lowers 2021 growth forecast, sees wider budget deficit

Malawi lowered its economic growth forecast for this year to 3.5%, from 4.5% seen previously, Finance Minister Felix Mlusu said in a mid-year budget statement on Friday.

The southern African country also revised upwards the projected budget deficit in the current 2020/21 fiscal year from 755.1 billion kwacha to 810.7 billion kwacha ($1.04 billion), or 8.8% of gross domestic product.