In Nigeria, the huge public debt is as a result of
ECONOMICS
JAMB 2010
In Nigeria, the huge public debt is as a result of
- A. balanced budgeting
- B. deficit budgeting
- C. surplus budgeting
- D. zero budgeting
Correct Answer: B. deficit budgeting
Explanation
A budget deficit typically occurs when expenditures exceeds revenue. This is one of the major reasons for Nigeria huge debt profile. Government spends more than it generates in revenue.
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