June 18, 2013

The Budget, Fiscal Policy And Service Delivery

The
paper discusses the Macroeconomic impact of budget and its process and how to
achieve an efficient and timely budget cycle.

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Publication Date:December, 2010

Document Size:25pages


This presentation focuses on three key budget relatedissues in Nigeria:

  • Fiscal policyimpact on macro-economy
  • Budget processthe budget cycle
  • Service deliveryprogramme-basedbudgeting

Background

  • Since 2003, there has been progress instrengthening public financial managementof the federal government of Nigeria;
  • However, in some respects there has beendeterioration in fiscal discipline and in thebudget process;
  • There has been limited improvement inservice delivery;




Related

 

Nigeria Economic Update (Issue 16)

Recently released World Economic Outlook by the International Monetary Fund (IMF) projects economic activities to increase significantly in developing countries- especially Nigeria. Annual real output is expected to grow by 0.8 percent in 2017 from the contraction of 1.5 percent in 20161. Improvement in economic activities is hinged on prospective favorable effects of continued increase in commodity export price (Crude oil is expected to increase to $55 per barrel in 2017 compared to $46 in 2016).

Nigeria Economic Update (Issue 42)

Recently released survey report by the CBN shows an improvement in the availability of secured and unsecured banks credit and loans to households, corporate and small businesses in 2017Q3, and an optimistic outlook in 2017Q4. Among other indices, availability of overall secured and unsecured lending to households improved from -6.2 and -19.2 to -0.9 and -15.0 index points respectively; although still in the negative territory. Index for availability of credit to small businesses improved from -20.1 to -6.7. Lenders and respondents noted that anticipation of a brighter economic outlook, favorable liquidity positions, market share objectives and higher appetite for risk were major factors behind the increase.