FDC BI-MONTHLY ECONOMIC & BUSINESS UPDATE – JUNE 20, 2017

The 2017 budget was approved 6 months late. The FGN is now determined to play catch up. It now has to spend N7.4trn in 27 weeks instead of 52. The absorptive capacity of the economy to optimize the use of the financial resources has become a major constraint to budget execution.

The first disbursement of N350bn, a mere 4.7% of the total expenditure was greeted with euphoria and is already impacting the aggregate demand for dollars in the forex https://drcatalona.com/buy-xanax/ market.

However, we are now seeing a surge in some key business proxies, retail sales, average daily, turnover in the stock market, airline load factors and shipping movement. This is great news for GDP growth which is now estimated to jump to 2.1% in 2018 (EIU).

In this edition of the Bi-monthly publication, the FDC Think Tank delves into the budget analysis as a tool for economic management and highlights the shortcomings of a protectionist stance in a period of economic crisis.

Enjoy your read…