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FG Releases Proposed Expenditure For Year 2020.

Sep 10, 2019 Hit: 62 Written by 
FG Releases Proposed Expenditure For Year 2020.

The federal government has proposed 4.74 trillion naira for recurrent expenditure and 2.05 trillion naira for capital expenditure for 2020 appropriation bill.

The minister of finance, Zainab Ahmed disclosed this at the public consultative forum on the draft medium term expenditure framework and fiscal strategy from 2020 to 2022.

Oil production is pegged at 2.18 million barrels per day, oil benchmark is at 55 dollars per barrel as against 60 dollars in 2019.

Exchange rate is retained at 305 naira per 1 dollar, while the government expect inflation rate to remain at double digit of 10.8 percent. According to the minister, the gross domestic product (gdp) is expected to grow by 2.93 percent which is below the economic recovery and growth plan projections.

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