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Nairaland Forum / Nairaland / General / Politics / Debt Is Sinking The Economy - Punch Editorial (9768 Views)
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Debt Is Sinking The Economy - Punch Editorial by ogododo: 2:42pm On Aug 06, 2021 |
A multi-trillion naira debt servicing plan, accompanied by yet another $8.32 billion borrowing request tamely approved by the Senate, has reignited widespread alarm over the Federal Government’s borrowing binge. The provision to spend N14.6 trillion on debt repayment in three years under the Medium-Term Expenditure Framework and Fiscal Strategy Paper 2022-24 comes amid rising debt servicing obligations that swallow 97 per cent of all revenues and increasing recourse to even more loans to meet recurrent expenditure. Experts say empirical evidence overwhelmingly supports the view that a large amount of government debt hurts economic growth potential, and in many cases that impact gets more pronounced as debt increases. https://punchng.com/debt-is-sinking-the-economy/ 17 Likes 4 Shares
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Re: Debt Is Sinking The Economy - Punch Editorial by joe54: 2:44pm On Aug 06, 2021 |
Buhari’s economic policies need to move from its current primitive and retrogressive mode to become scientific and strategic. God punish buhari. Can I hear a loud Amen. 73 Likes 3 Shares |
Re: Debt Is Sinking The Economy - Punch Editorial by inoki247: 2:45pm On Aug 06, 2021 |
MTN be like..... For More Loan Text Buhari to 2023.... If debt get word and opposite na Buhari go b him opposite.... 24 Likes |
Re: Debt Is Sinking The Economy - Punch Editorial by chatinent: 2:47pm On Aug 06, 2021 |
It has sunk real deeply already. 3 Likes 1 Share |
Re: Debt Is Sinking The Economy - Punch Editorial by baralatie(m): 2:48pm On Aug 06, 2021 |
Re: Debt Is Sinking The Economy - Punch Editorial by velocity25(m): 2:59pm On Aug 06, 2021 |
Zombies and minions wouldn't agree with your write up Sir, We are in Next Level 202. 7 Likes 1 Share
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Re: Debt Is Sinking The Economy - Punch Editorial by ogododo: 3:03pm On Aug 06, 2021 |
Despite this, the government has been recklessly piling up a mountain of debt, external and domestic, that experts fear may sink the economy if not checked. The MTEF/FSP report envisages spending N3.6 trillion on servicing debts in 2022, N4.9 trillion in 2023 and N6.1 trillion in 2024. Consistently, national budgets since the country’s deliverance from three decades of peonage via the landmark debt buy-back scheme of 2005/6 have been characterised by deficits, borrowing, and precedence of recurrent over capital expenditure. The repercussions have been devastating, including poverty levels now at 70 per cent, unemployment 33.3 per cent, and inadequate infrastructure. Gbese upon gbese, our roads, light, hospitals no be am. 17 Likes |
Re: Debt Is Sinking The Economy - Punch Editorial by PrinceOfLagos: 3:04pm On Aug 06, 2021 |
Raw truth |
Re: Debt Is Sinking The Economy - Punch Editorial by Ayo2004: 3:04pm On Aug 06, 2021 |
No Buhari is sinking the economy |
Re: Debt Is Sinking The Economy - Punch Editorial by Pickieox(m): 3:04pm On Aug 06, 2021 |
Una never see anything |
Re: Debt Is Sinking The Economy - Punch Editorial by Sonnobax15(m): 3:05pm On Aug 06, 2021 |
China right now 10 Likes 1 Share
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Re: Debt Is Sinking The Economy - Punch Editorial by Nobody: 3:05pm On Aug 06, 2021 |
They warned you to stop voting for men who are at the end of their useful lives. You will not hear. 20 Likes |
Re: Debt Is Sinking The Economy - Punch Editorial by Pickieox(m): 3:05pm On Aug 06, 2021 |
Buhari is doing well nah |
Re: Debt Is Sinking The Economy - Punch Editorial by Teewhy2: 3:05pm On Aug 06, 2021 |
Not just debit servicing, almost everything is sinking the economy. how can an economy attracts investments when the security of the investors are not guaranteed, also an economy that policy stability is not sure in the short time will definitely go down the drain. A serious country that wants to grow and has 11.7 million vehicles ( 6.8 million commercial and 4.7 million private) according to National Bureau Statistics Q1 2018 won't allow the only two tyre manufacturing companies (Dunlop and Michelin) in Nigeria and west Africa as at that time to shutdown their factories in 2008 and 2006 respectively. imagine each vehicle replacing average of one tyre per year that is 11.7 million tyre in a year, how many people will be employed into the industry that will produce that amount of tyre. Do you need to False Ceiling? Looking for a ceiling without water map due to water leakage from roof? Try to reduce your building load with the use of polystyrene material. Polystyrene false ceiling got you covered. Get to know more by clicking below. https://www.nairaland.com/3726763/alternative-building-material-expanded-polystyrene/21 3 Likes 1 Share
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Re: Debt Is Sinking The Economy - Punch Editorial by NwaNimo1(m): 3:05pm On Aug 06, 2021 |
4 Likes 1 Share |
Re: Debt Is Sinking The Economy - Punch Editorial by Omezif(m): 3:06pm On Aug 06, 2021 |
Buhari is truly embarrassing nigerians, buhari and his cabinets stubborness have weaken many people esspecially our good statemen. many of our former presidents were hearing advice and tried to change as much as they can but buhari and those who claim to be his special advisers are thesame. No change at all in them, they only tried used their evil broom swept out blessing nigerians were experiencing during GEJ Tenure than expectation. May God help nigerians. 5 Likes 1 Share |
Re: Debt Is Sinking The Economy - Punch Editorial by falseprophet: 3:06pm On Aug 06, 2021 |
I see Nigerian youths fighting over themselves here on nairaland over same old generation that have ate up their future I see them fighting over Tinubu and Atiku This I have seen! 10 Likes |
Re: Debt Is Sinking The Economy - Punch Editorial by slawormiir: 3:06pm On Aug 06, 2021 |
Damnnn niggar 2 Likes 1 Share |
Re: Debt Is Sinking The Economy - Punch Editorial by michlins(m): 3:06pm On Aug 06, 2021 |
Baba no dey read this editorial 1 Like |
Re: Debt Is Sinking The Economy - Punch Editorial by YorubaNinja: 3:06pm On Aug 06, 2021 |
Re: Debt Is Sinking The Economy - Punch Editorial by Sabadon(m): 3:07pm On Aug 06, 2021 |
Its not sinking it has sunk 6 Likes |
Re: Debt Is Sinking The Economy - Punch Editorial by Kingpin1000: 3:08pm On Aug 06, 2021 |
ogododo:Your illustration is not 100% correct |
Re: Debt Is Sinking The Economy - Punch Editorial by FarahAideed: 3:08pm On Aug 06, 2021 |
Debt and bad governance.. Buhari has always told Nigerians that as an Army officer he was always collecting loans to make it through , he built his personal house with loan and the even bought APC form with loan but yet gullible NIGERIANs chose to vote him and now he has sank the country in debt that I can't see how we will pay 11 Likes |
Re: Debt Is Sinking The Economy - Punch Editorial by sotall(m): 3:08pm On Aug 06, 2021 |
Re: Debt Is Sinking The Economy - Punch Editorial by omoluka: 3:08pm On Aug 06, 2021 |
ogododo:Hmm......................... |
Re: Debt Is Sinking The Economy - Punch Editorial by Adebaba1(m): 3:09pm On Aug 06, 2021 |
sad |
Re: Debt Is Sinking The Economy - Punch Editorial by Nobody: 3:09pm On Aug 06, 2021 |
It was never well. |
Re: Debt Is Sinking The Economy - Punch Editorial by obembet(f): 3:11pm On Aug 06, 2021 |
2 Likes |
Re: Debt Is Sinking The Economy - Punch Editorial by Brushstrokes20: 3:11pm On Aug 06, 2021 |
Buhari"s sole destiny is to sink the shithole beyond redemption! Useless govt of self serving THIEVES and BLOODTHIRSTY TERRORISTS! |
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