Okonjo-Iweala,Okogu Present Overview of 2013 Budget (pdf )

Overview Of 2013 Budget ,By Dr. Ngozi okonjo-Iweala (PDF)

In spite of turbulent global economic environment and changing global oil map, Nigerianeconomy has been resilient, experiencing a robust growth in 2012 of 6.5 per cent compared with global growth of 3.2 per cent. Inflation is now down to single-digits 9 percent in January 2013, compared with 12.6 percent in January 2012. Our fiscal deficit is on a downward trajectory, and below our threshold of 3 percent, while exchange rate has remained stable.

Government is also building up necessary savings to cushion economy against a possible global or collapse of oil prices. For instance, balance in the excess crude account has increased from $4.22 billion in August 2011 to about $9 billion the end of 2012. In addition, we launched Nigeria’s Sovereign Wealth

Download Okonjo-Iweala’s overview here (PDF)

In Graphic Pictures:FGN 2013 Budget:Fiscal Consolidation with Inclusive Growth ,By Dr. Bright Okogu (pdf)

..2013 Budget prepared against backdrop of challenging global economy

. Transmission mechanism of global uncertainty to economy is mainly through lower demand and pressure on oil price and also, FDI, PIs and remittances

. Budget aimed promoting fiscal consolidation and engendering real growth n Government determined to focus on gearing expenditure towards capital projects and programmes

.Focus remains job creation, economic diversification and provision of enabling environment for sustainable growth

. The growing remains a critical to the budget

. The SURE-P vehicle continuing to supplement main budget to deliver the promises of government in social and infrastructure areas

Download Okogu’s  presentation here PDF

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