FG defies concerns, ramps up domestic borrowing to N10.85trn

•Shifts borrowing preference to TBs amidst high interest rates
•Deficit to escalate as oil revenue underperforms
•Analysts disagree over impact of GDP rebasing on debt ratioBy Babajide Komolafe, Economy Editor & Peter EgwuatuIn spite of mounting concerns over the huge level of the country’s public debt, and the severe impact of rising cost of debt servicing on the economy, the Federal Government, FG, increased borrowing from domestic investors to N10.85 trillion in the