Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,153,018 members, 7,818,016 topics. Date: Sunday, 05 May 2024 at 04:33 AM |
Nairaland Forum / Nairaland / General / Politics / FG Spends Two-thirds Of Tax Revenue On Debt Servicing - Business Day (429 Views)
FG Spends N679m Daily On Feeding Schoolchildren During Lockdown / Debt Servicing Gulps N8 Trillion As FG Seeks More Loans / I’ll Leave If Impeached By Two-thirds Of The Senate, Says Saraki (2) (3) (4)
(1) (Reply)
FG Spends Two-thirds Of Tax Revenue On Debt Servicing - Business Day by 4Play(m): 10:29pm On Jun 01, 2017 |
The Federal Government of Nigeria’s fiscal deficit ran at a 12-month high in the month of February, according to data provided by the Central Bank, as actual revenues flunked budget targets and officials overshot spending.http://www.businessdayonline.com/revenue-shortfalls-push-fgs-fiscal-deficit-12-month-high/ The 3 things in bold stand out: N750bn debt added over a 5 month period, debt servicing costs equates to 66% of tax revenue and the disappointing fall in non-oil tax revenues. If debt servicing costs rise faster than tax revenues, it will make the debt profile unsustainable. The upside is that it might force the government to do what they should have done ab initio - reduce spending. Applying fiscal stimulus in a currency crisis is counterproductive. 4 Likes |
(1) (Reply)
No Restructuring No Nigeria - Ayo Adebanjo, Afenifere Chieftain / New Poll Reveals Nigerians’ Preference For Middle-aged Presidential Candidates / Opinion: Too Late To Save Divided, Separate, Hostile And Unequal Nigeria
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 11 |