Some economists have lauded the 2020 budget proposal presented by Governor Ben Ayade of Cross River State, saying some of its components have the tendency to stimulate growth.
Recall that On Monday, November 21, Governor Ayade presented N1.1 trillion budget for the 2020 fiscal year to the state House of Assembly.
Capital expenditure is allocated N911 billion, representing 82.8% of the budget while N188 billion is allocated to recurrent expenditure, representing 17.2% of the budget.
Also, during the presentation, the Governor announced that from 2020, workers earning less than N100,000 in the state and owners of small scale businesses are exempted from payment of taxes.
Speaking on these components of the budget, a renowned economist and Lecturer in the Department of Economics, University of Calabar, Dr. Peter Ubi, said the budget was primed to stimulate growth.
Ubi lauded the governor for the tax exemption adding that the…
Source: Thisday Newspaper
