Anambra to spend N70 million monthly on debt servicing


The Anambra government has said it will spend between N60 and N70 million monthly to service its domestic and external debts.

Mr Mark Okoye, Commissioner for Economic Planning and Budget said this at a post budget presentation news conference in Awka on Thursday.

Okoye said the debt profile of the state, was presently at 15 million dollars, external loans, and N20 billion domestic borrowings.

He said budget, which was christened “Budget of Value-for-Money, Economic Diversification and Job Creation”, would trigger massive construction and infrastructure development in the state.

Okoye said some of the basic principles underlying the budget include value for money, economic diversification, job creation, strategic collaboration and public private partnership.

“We are proposing a budget size of N166.9 billion, the state expects to spend N63.9bn on recurrent expenditure…

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