• Sun. Aug 1st, 2021

The Central Bank of Nigeria expressed concern over the rising cost of debt service being incurred by the Federal Government

Byadmin

Nov 5, 2020

The Central Bank of Nigeria has expressed concern over the rising cost of debt service being incurred by the Federal Government.

It said, in its half-year 2020 economic report, that the trajectory of Federal Government’s debt further constrained fiscal policy during the period, as interest payment obligations amounted to N1.15tn in the first half of 2020.

The Central Bank explained that at nineteen point two per cent, the debt-to-the Gross Domestic Product ratio indicated a solvency position of the government.

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