Presidency fires back at Atiku over comment on 2019 budget

Presidency fires back at Atiku over comment on 2019 budget

- Atiku Abubakar has been faulted by the presidency over his comment on the 2019 Appropriation Bill presented to the National Assembly

- The PDP presidential candidate had said the 2019 Appropriation Bill was a flawed document

- In reaction, the presidency described Atiku's comment as a poor attempt at playing to the gallery

The presidency has taken a swipe at the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, over his comment that the 2019 Appropriation Bill presented by President Muhammadu Buhari to the National Assembly was a flawed document.

According to the presidency, Atiku's criticism on recession is an indication that the latter does not understand the meaning of recession, Vanguard reports.

Legit.ng gathers that in a statement in Abuja by the special adviser to the president on media and publicity, Femi Adesina, the presidency said the former vice president's comment on the budget was a poor attempt at playing to the gallery.

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The statement read: “Regrettably, that Atiku Abubakar offered no substantive and workable solution to the identified realities.

“Atiku describes the underlying assumptions of the budget as generous, wild and untenable but does not propose alternative assumptions that would have been more appropriate. He argues that the economy is yet to recover from the 2016/2017 recession.

“Unfortunately, he cannot create his own definition of an economic recession, which is a technical term with a universally applicable meaning.

"When an economy experiences two consecutive quarters of negative GDP growth, it is said to be in recession and whenever it returns to positive GDP growth of whatever rate, it is said to have exited recession. It is doubtful if he understands the simple meaning of recession.

“Atiku attributes the sustained accretion to foreign reserves to ‘increases in international prices of Brent Crude and foreign borrowing.’ But he conveniently forgets that under the immediate past federal administration, oil prices were at an all-time high with substantial growth in foreign borrowings, and yet foreign reserves nose-dived from a peak of $62 billion to as low as $24bn.”

Meanwhile, Legit.ng previously reported that the PDP asked the All Progressives Congress (APC) to address pressings issues in the country rather than attacking its presidential candidate, Atiku Abubakar.

The spokesperson for the party, Kola Ologbodiyan, said on Tuesday, December 4, that the APC and the Buhari Media Organisation (BMO) were jittery ahead of the 2019 presidential election.

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He said the ruling party had nothing to show for almost four years in office and had resorted to attacking Atiku Abubakar to deflect attention from pressing issues.

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Source: Legit

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