Thursday, 13 July 2017

Adeosun says FG will continue to borrow

Kemi Adeosun

On Thursday the Federal Government of Nigeria ascertained that nothing will alter the borrowing agenda.

Kemi Adeosun,the Minister of Finance said that Nigeria will continue to borrow funds to finance the economy and Development projects.

She said:

“The Economic Recovery and Growth Plan allows for a rise in spending over a three-year period, which is reflected in the 2017 budget.”

“In 2017, the government is committed to spending N7.44 trillion, with a projected fiscal deficit of N2.356 trillion, which will be funded by a combination of domestic and international borrowing.”

To build a sustainable economy, Adeosun said Nigeria must replace its debt with strong revenue sources.

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