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FG approves 'slightly different' GDP forecast

Samson Toromade

August 10, 2017 10:35 PM

The Federal Government has approved a different growth trajectory of 3.5% for the next year, down from an initial 4.8%

Minister of Budget and National Planning, Udo Udoma and Acting President Osinbajo

The Federal Government has approved a medium-term framework for the the period of 2018 to 2020.

This was revealed by the Minister for Budget and National Planning, Udoma Udo Udoma, on Wednesday, August 9, 2017.

The minister disclosed that the government has revised its goal downwards for the coming years by approving a different growth trajectory of 3.5%.

A 4.8% growth trajectory had previously been announced in the ministry's strategy paper.

ALSO READ: FG releases economic recovery plan

According to Udoma, the revision is a representation of the government's commitment to exploring ways of raising additional revenues that'll help to reduce the country's debt service burden.

Samson Toromade Samson Toromade is the Editor-in-Chief of Pulse Nigeria. Contact: samson.toromade@pulse.ng

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