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Govt records K21 billion surplus in January

Government operations, through the Reserve Bank of Malawi, in January resulted in a K21 billion surplus.

This is contained in the central bank’s economic performance report for the month under review.

During the month of January, the government’s total revenue stood at K406.1 billion while expenditure was at K384.5 billion.

The surplus is a drop from the K28.9 Billion registered in the preceding month but an improvement from the K198.5 Billion deficit registered during the same period last year.

This means that cash flows into the banking system were higher than what was withdrawn from the market, translating into excess money in the bank’s reserves.

During the month, money circulating in the economy grew to 40.7 % from 32.2% in December 2023.

On a month-on-month basis, money in circulation increased by K128.3 billion (3.5%) to K3.8 trillion in January from 2.9 trillion.

The increase is on the back of what has been described as aggressive deposit mobilisation campaigns which were conducted by commercial banks in the month.

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