Malawi: public finances

What is the budget deficit of Malawi?

Malawi's general government deficit was 10.2% of GDP in 2025, according to the IMF World Economic Outlook (October 2026), after 11.0% in 2024. The IMF projects 8.6% for 2026.

The deficit is the gap between government revenue, including grants, and spending, measured for general government. Persistent deficits add to public debt. The Ministry of Finance publishes budget statements and documents for each fiscal year.

Official sources: IMF DataMapper: General government net lending/borrowing, Malawi

What is the public debt of Malawi?

Malawi's general government gross debt was 96.6% of GDP in 2025, according to the IMF World Economic Outlook (October 2026), up from 86.5% in 2024. The IMF projects 78.0% for 2026.

The ratio covers domestic and external debt owed by government. It can change quickly when the kwacha's exchange rate moves, because external debt is owed in foreign currency, and when nominal GDP grows fast with high inflation. Debt figures for 2025 and 2026 are IMF estimates and projections.

Official sources: IMF DataMapper: General government gross debt, Malawi

What is Malawi's debt to GDP ratio?

The IMF puts general government gross debt in Malawi at 96.6% of GDP in 2025. That is the highest since at least 2005. Sub-Saharan Africa median: 53.0% of GDP; Malawi is 6th highest of 46. World rank, highest first: 27th of 185.

What is Malawi's budget deficit?

According to the IMF, general government net lending or borrowing in Malawi was -10.2% of GDP in 2025, which is a deficit. Since 2005 it has ranged from -11.0% of GDP (2024) to 0.6% of GDP (2010). Sub-Saharan Africa median: -3.0% of GDP; Malawi is 46th highest of 47. World rank, highest first: 177th of 188.

How much revenue does Malawi's government raise?

18.8% of GDP: that is general government revenue in Malawi for 2025, according to the IMF. Its high point since 2005 was 2010, at 20.2% of GDP; its low point was 2011, at 14.1% of GDP. It is 21st highest of 47 in Sub-Saharan Africa, where the median is 18.4% of GDP. World rank, highest first: 137th of 187.

How much does Malawi's government spend?

The latest figure from the IMF, for 2025, is 29.0% of GDP. Since 2005 it has ranged from 17.0% of GDP (2011) to 29.5% of GDP (2024). Across Sub-Saharan Africa the middle value was 20.8% of GDP, and Malawi placed 11th highest of 46. World rank, highest first: 101st of 186.

What is Malawi's tax to GDP ratio?

According to the IMF, central government tax revenue in Malawi was 15.6% of GDP in 2024. No year since 2009 has been higher. Sub-Saharan Africa median: 14.1% of GDP; Malawi is 8th highest of 16. Of 92 countries with 2024 data, 56th highest.

What is Malawi's defence spending?

The latest figure from SIPRI, for 2025, is 1.1% of GDP. Since 2005 it has ranged from 0.5% of GDP (2015) to 1.2% of GDP (2023). Sub-Saharan Africa median: 1.3% of GDP; Malawi is 27th highest of 44. Worldwide: 100th of 149.