June 18, 2013

The Role Of Fiscal Policy In Promoting Growth

The paper examines fiscal policy as it influences growth through taxes
and service delivery. It also reviews Nigerias experience with fiscal policy
as well as challenges to its current system.

Download Label
March 13, 2018 - 4:00 am
application/pdf
116.33 kB
v.1.7 (stable)
Read →

Author:Menachem Katz

Publication Date: December, 2012

Document Size:31pages


Recent experience with fiscal policy

  • Prior to 2004 fiscal policy was pro-cyclicalsubjecting the economy to boom-bust cycles
  • During 2004-2008 , with oil price-based ruleand ECA, economy stabilized and inflation fell.
  • In 2009 and 2010 external shock and largespending expansion resulted in high budgetdeficits and depletion of ECA
  • Since 2012, fiscal policy has been tightened.




Related

 

Nigeria Economic Update (Issue 2)

Inflation rate rose slightly to 9.4 percent in November 2015 from 9.3 percent in the previous month. This rise is attributed to price increase in Food and Non-Alcoholic Beverages, and Transportation costs which extends from shortages of petrol across the country. The food sub-index grew by 0.2 percentage points to 10. 1 percent while, the Core sub-index declined by 0.2 percentage points to 8.7 percent within the period. The inflationary up-tick points to the need to curtail the rising food prices by increasing the supply of petrol in the country. 

Nigeria Economic Update (Issue 30)

Recent media highlights suggest that there is a prospective decrease in Nigerias budgetary benchmark crude oil production. Precisely, the 1.8 million barrels per day proposed at the Joint OPEC and Non-OPEC Ministerial Monitoring Committee (JMMC) meeting, is 18.2 percent lower than the budgetary production benchmark of 2.2 million barrels per day. This followed OPECs recent review to include Nigeria in the ongoing production cut agreement amid concerns of global oil market oversupply, given the constant production increase from Nigeria over the last few months.