Kindly Share This Story:By Peter Egwuatu Against the backdrop of recently set targets in the revised 2020 budget and the approved Federal Government’s National Economic Sustainability Plan, NESP, research reports by some investment houses have indicated that macroeconomic outcomes would be far off targets by year end 2020 into 2021. Despite the estimated stimuli amounting to N2.3 trillion, output levels measured by the Gross Domestic Product, GDP, cost of living measured by inflation rate, as well as other key indices such as unemployment levels and exchange rate are likely to be weaker than FGN’s projections, according to independent research reports obtained by Financial Vanguard. Nigeria’s economy had come under pressure since first quarter of this year following outbreak of the COVID-19 pandemic and oil price shock which completely overturned the entire 2020 budget as approved by the National Assembly in December 2019, forcing a fresh budget and also the NESP to address the economic impact of the pandemic. The research reports were the first set of comprehensive reviews of what has happened to the Nigerian economy since this year (H1’20) and the spillover into second half (H2’20) as well as 2021. READ ALSO:N700m fraud case: Buhari aware of PDP’s attack… Read full this story
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