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Limiting The Fiscal Deficit: A Clarification of The Coordinating Minister's Comments Before The Senate Committee On Appropriation

04/07/12

Limiting The Fiscal Deficit: A Clarification of The Coordinating Minister's Comments Before The Senate Committee On Appropriation

Permalink 07:47:00 am, by trseun Email , 197 words   English (US) latin1
Categories: News, Nigerian News, World News, African Issue, Tellers and Global Viewers

*Limiting The Fiscal Deficit: A Clarification of The Coordinating Minister's Comments Before The Senate Committee On Appropriation
( News Release - Federal Ministry of Finance )

In some recent newspaper reports, the Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala was quoted as stating before the Senate Committee on Appropriation that the Federal Government plans to cut the 2012 budget by N370 billion.

Such reports are not accurate.

The minister did not cite the amount published. What she did say is that in its efforts to meet the challenge of financing the remaining portion of the fiscal deficit of over N300 billion, government is adopting a combination of strategies.

These strategies include the reduction in government expenditure particularly overheads and a more aggressive push on revenue generation.

In discussing the fiscal deficit, Dr Okonjo-Iweala also made it clear that there is an urgent need to take action in order to reduce the cost of governance and improve the overall health of the economy.

Paul C Nwabuikwu
Senior Special Assistant to the Coordinating Minister for the Economy and Minister of Finance

Nigeria Finance Minister Ngozi Okonjo-Iweala

Photo Above: Nigeria Finance Minister Ngozi Okonjo-Iweala

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1 comment

Comment from: nigerian news [Visitor]
nigerian newsOne minute they are saying they quoted figures, the next minute they are saying they did not quote figures. We all know the truth, the ruling party is using Nigeria's money to fund itself. Now they are saying Nigeria is broke?
04/13/12 @ 09:13

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