President Jonathan cuts 2015 budget to #4.661tr
Posted by admin | 9 years ago | 2,787 times
Following the falling oil prices,President Goodluck Jonathan has cut the proposed 2015 budget of #4.817trillion to #4.661 trillion.
The budget was reduced by about #63billion.
The federal government also reviewed its proposed exchange rate upwards from #160 to #162 per dollar.
The oil benchmark also dropped from $78 to $73 per barrel.
The price of oil at the international market has since crashed from over $100 per barrel to less than $80 per barrel.
The federal governments position was contained in the revised Medium Term Expenditure Framework and Fiscal Strategy Paper presented to the senate by President Jonathan on November 19.
The government also projected #4.733.21 trillion and #4.930.29 trillion as expenditure for 2016 and 2017 respectively.
Readers Comments
comment(s)
No comments yet. Be the first to post comment.
