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Nairaland Forum / Nairaland / General / Breakdown Of 2018 Budget Estimates; 16%higher Than 2017 Budget Estimates (425 Views)
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Breakdown Of 2018 Budget Estimates; 16%higher Than 2017 Budget Estimates by Mrsulay: 10:27pm On Nov 08, 2017 |
B udget size: N8.612 trillion (16 % higher than 2017 estimates) Assumptions, projections • Benchmark crude oil price-US$45 per barrel • Oil production estimate – 2.3 million barrels per day • Exchange rate – N305/US$ for 2018 Real GDP growth of 3.5 per cent • Inflation Rate of 12.4 per cent Expenditure Estimates The proposed aggregate expenditure of N 8.612 trillion (16 per cent above 2017 budget estimate) will comprise • Recurrent Costs of N3.494 trillion • Debt Service of N2.014 trillion • Statutory Transfers of about N456 billion • Sinking Fund of N220 billion (to retire maturing bond to local contractors) • Capital Expenditure of N2.428 trillion (excluding the capital component of statutory transfers). Recurrent Expenditure A substantial part of the recurrent cost proposal for 2018 is for the payment of salaries and overheads in key ministries providing critical public services such as: • N510.87 billion for Interior • N435.01 billion for http://your-notion..com/2017/11/breakdown-of-2018-budget-estimates-16.html |
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