Nigeria‘s budget deficit is set to fall to 1.85 percent of gross domestic product in 2013, the director general of the budget office said on Thursday. Last year’s budget predicted a 2012 deficit of 2.97 percent of GDP. Nigerian President Goodluck Jonathan approved a 4.99 trillion naira budget last month […]
Tag: Budget
Dollar rallies on fear of more budget fights
The dollar climbed to a three-week high against a basket of currencies on Thursday as concerns about more budget wrangling in Washington drove investors to the more liquid U.S. currency. While lawmakers reached a deal to avert the “fiscal cliff” of huge tax hikes and spending cuts, the agreement set […]
Nigerian parliament passes 2013 budget, inflates spending
Nigeria’s national assembly on Thursday passed a 4.987 trillion naira ($31.6 billion) 2013 budget, inflating proposed spending put forward by President Goodluck Jonathan and reducing the amount of oil money put into savings. Jonathan had sent the national assembly a 4.92 trillion naira budget proposal in October. He will need […]
