The raising of the Federal Government’s 2019 budget deficit financing level by N90 billion in the just-approved fiscal spending plan by the National Assembly has drawn different reactions from some economists in Abuja.
An economist and presidential candidate of the Abundant Renewal Party of Nigeria (ARPN) in the last general elections, Mr. Tope Fasua, said increasing the size of the budget was desirable but not for “unproductive spending.”
“The disturbing issue is the purpose for this additional spending, which has already increased the fiscal deficit. It is for unproductive ventures like the settlement of National Assembly severance packages and allowances and security support to Zamfara State. Why should the Federal Government single out a state for additional spending when such a state is an autonomous entity? This is not spending that can catalyse growth and development.” Read more