BUSINESS AND ECONOMY

Economist says projections in 2019 budget achievable

An economist, Mr Chijioke Ekechukwu says the 2019 budget will keep the economy busy and afloat if fully implemented, especially as capital vote constitutes about 30 per cent of the budget.

Ekechukwu said this in an interview with the News Agency of Nigeria (NAN)  in Abuja, while reacting to the signing of the 2019 Appropriation Bill of N8.92 trillion into law.

According to him, there will be a lot of improvement in the infrastructure space.

President Muhammadu Buhari had on Monday signed the 2019 appropriation bill into law, signaling beginning of the implementation of the 2019 fiscal calendar.

The budget was increased by the legislature by N90 billion from the N8.83 trillion presented by Buhari on Dec. 18, 2018.

He said that the budget, however, was not likely  to give Nigeria the projected  three  per cent  growth rate as the first quarter was  already running short of that milestone.

“To achieve the projected growth, the run rate for the remaining quarters has to be above three per cent  to be able to achieve the targeted rate,”’ Ekechukwu said.

According to him, I do not see the budget creating more employment opportunities in the near future.

He said that nonetheless, that was the capacity the economic size can carry for now, adding that in such case, Nigerians must accept that fact. (NAN)

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