With the steady increase in the nation’s debt profile, we further analysed the significant causes of the increasing debt stock – either its decreasing revenue or high expenditures.
We discovered that expectations of higher revenue inspire expenditure increases of the Federal Government. Hence, each time the revenue falls short of its expenditure, the budget deficit is financed by debts and other forms of asset forfeiture.
What are your thoughts regarding this pattern of spending by the government?
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