Debt service projected to gulp 71.7% of revenue by 2030
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Nigeria’s debt service-to-revenue ratio is projected to rise to 71.7 per cent by 2030, exceeding the 50 per cent threshold recommended by the Debt Management Office (DMO).
The projection is contained in the DMO’s 2024 Debt Sustainability Analysis report released on Monday, which warned that debt servicing would consume an increasing proportion of government revenue despite an expected decline in the country’s debt-to-GDP ratio.
This is coming amidst mounting public debt estimated to hit over N20
The projection is contained in the DMO’s 2024 Debt Sustainability Analysis report released on Monday, which warned that debt servicing would consume an increasing proportion of government revenue despite an expected decline in the country’s debt-to-GDP ratio.
This is coming amidst mounting public debt estimated to hit over N20
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