With growing concerns abroad about negative impact of rising level of recurrent expenditure over capital budget in the country, the International Monetary Fund, IMF, on Thursday urged the Federal Government to exercise caution against expansionary fiscal policies in its planning.

Last Tuesday, the former Secretary General of the Commonwealth, Emeka Anyaoku, at the public presentation of the book, “Reforming the Unreformable: Lessons from Nigeria,” written by the Minister of Finance and Coordinating Minister for the Economy, Ngozi Okonjo-Iweala, gave a similar warning that the high recurrent expenditure by the Federal Government was detrimental to the country’s development aspirations.
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