The Federal Government on Monday in Abuja said all the parameters used in drafting the country’s 2018 Appropriation Bill were realizable.
Minister of State, Ministry of Budget and National Planning, Hajia Zainab Ahmed, stated this while addressing a Joint House of Representatives Committee scrutinising the 2018-2020Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
Ahmed said that the government was expected to generate N6.6trillion revenue in 2018 as projected in the budget, representing a 30-per cent increase over 2017 projection.
According to her, this is based on key strategy adopted by the relevant ministries to block revenue leakages and effective revenue collection and management.
The Minister also stated that the proposed 45 dollars oil benchmark in the budget was carefully adopted by the executive to provide the amount needed to fund the budget deficit of N2.01trillion, representing 1.77 per cent increase.
She said that other parameters included oil production estimate of 2.3 million barrels per day, real GDP growth of 3.5 per cent, inflation rate of 12.4 per cent and exchange rate of N305 to a dollar. (NAN)
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