L
LequteMan
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Nigeria - According to BusinessDay, 21% of Nigeria's 2015 budget has been earmarked to service debts.
A breakdown of the fiscal year 2015 budget shows that debt service provisioning for the fiscal year was put at N953.6 billion, representing about 21.2 percent of the government’s projected total expenditure of N4.493 trillion.
Year-on-year, this represents an increase of nearly 34 percent from what was earmarked in fiscal year 2014 for debt servicing.
A breakdown of the approved budget numbers shows that, of the N953.6 billion earmarked for debt servicing, N894.6 billion will be used to service government’s domestic debt while the remainder will go to servicing external debt.
Further analysis of the numbers indicates that the government plans to spend N396.6 billion more on servicing its debts than it plans to spend on capital projects.
Analysts note that given the massive infrastructure deficit in the country, such a high debt service liability will, in addition to bringing little direct value to the people, have a long term impact on government’s fiscal sustainability.
#Nigeria #subsidy #Budget
A breakdown of the fiscal year 2015 budget shows that debt service provisioning for the fiscal year was put at N953.6 billion, representing about 21.2 percent of the government’s projected total expenditure of N4.493 trillion.
Year-on-year, this represents an increase of nearly 34 percent from what was earmarked in fiscal year 2014 for debt servicing.
A breakdown of the approved budget numbers shows that, of the N953.6 billion earmarked for debt servicing, N894.6 billion will be used to service government’s domestic debt while the remainder will go to servicing external debt.
Further analysis of the numbers indicates that the government plans to spend N396.6 billion more on servicing its debts than it plans to spend on capital projects.
Analysts note that given the massive infrastructure deficit in the country, such a high debt service liability will, in addition to bringing little direct value to the people, have a long term impact on government’s fiscal sustainability.
#Nigeria #subsidy #Budget
