Plateau defends N37bn borrowing for 2020 budget

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The Plateau State Government on Monday said that its plan to borrow additional N37.6bn to finance the N177bn 2020 Budget will not plunge the state into more debts.

The Debt Management Office has put the state’s debt profile at N98bn as of June 2019.

The Commissioner for Budget and Economic Planning, Mr Silvester Wallangko, stated this in Jos on Monday during the 2020 budget breakdown.

He said government was concerned about the rising debt profile of the state.

He, however, stressed the need to source for funds in order to execute projects for the people.

Wallangko said, “We are seriously concerned about the rising debt profile of the state but if you go back to 2015 when this administration began, N98bn was not the debt we inherited.”

“It was well above that but we have made remarkable progress to reduce the debt profile of the state.”

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