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Minister Budget and National Planning, Udoma Udo Udoma

FG’s economic plan is not to sell all assets but to source immediate funds says Udo Udoma.

Budget and National Planning, Minister UDOMA UDO UDOMA is insisting that the federal government’s economic stimulus plan is not to sell all critical national assets but to source immediate funds needed to reflate the economy and implement capital projects in the 2016 budget.

 AKPANDEM JAMES, the Minister’s spokesman in a statement in Lagos quoted UDOMA as saying that the intention of government was just to set enough money to get the economy back on the path to recovery.

According to him, the country had lost almost half of its expected revenue and would need to source for the shortfall to enable it faithfully implement the budget.

Minister UDO UDOMA explained the other option would have been to source for additional loans beyond the level of borrowing already projected for in the 2016 budget, adding however that the option would not be a wise one as it would raise the level of debt service to unsustainable levels.

 

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