xIf this trend continues, stakeholders worry that the deficit might exceed N7 trillion, just like it crossed N6 trillion in 2021. According to the Joint World Bank-IMF Debt Sustainability Framework for Low-Income Countries released earlier, a country’s debt service to revenue threshold should not exceed 23 per cent. “We need to find ways to grow our revenue and reduce dependence on oil revenue due to the volatility of the sector. Overall, we expect the fiscal deficit to print at 5per cent of GDP in 2021. He noted that fiscal deficit is just a reflection of economic dislocations that need to be addressed.

Source: The Guardian July 05, 2021 04:30 UTC