Nigeria Economic Update (Issue 38)

The government’s new fiscal projections have been revealed in the Medium-Term Expenditure Framework (MTEF) 2020-20221. The GDP growth projection was revised downwards from 3.6% to 2.9% for the 2020 fiscal year. Benchmark crude price was also revised from $60 to $55 per barrel, which could weigh on expected revenues. However, while recurrent expenditure is expected […]