The federal government has reduced the deficit in the 2024 budget to below 3.8 percent of Gross Domestic Product (GDP), thereby reducing the reliance on borrowing. This was disclosed yesterday by minister of finance and coordinating minister of the economy, Wale Edun, after President Bola Tinubu signed theTinubu assented to the bill at the State House, Abuja, yesterday, shortly after returning to Abuja from Lagos.
At the ceremony, the president assured Nigerians that the implementation of the budget would be efficiently pursued and vigorously monitored, adding that all the institutional mechanisms would be deployed in ensuring diligent implementation The president, in a statement by presidential spokesman, Ajuri Ngelale, said, “All MDAs have been directed to take responsibility and provide monthly Budget Performance Reports to the Ministry of Budget and Economic Planning, which in turn shall ensure the veracity of suc
Source: Loan Digest (loandigest.net)
Federal Government Deficit 2024 Budget Gross Domestic Product Borrowing
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