Buhari’s Minister Disagrees With World Bank On Economic Growth
Nigeria’s minister of budget and national planning Senator Udoma Udo Udoma has disagreed with the projections of the World Bank that Nigeria’s economy will grow by just 2.2% in 2019.
The minister believes the Nigerian economy will grow by 3.01% in 2019.
Udoma was speaking at the Deloitte Dialogue on Nigeria’s Economic Outlook for 2019, in Lagos.
He said the proposed 2019 budget is intended to further reposition the economy on the path of faster, inclusive, diversified and sustainable growth, and to continue to lift significant numbers of our citizens out of poverty.
He explained that inflation is expected to trend downwards to single digit of 9.98% in 2019 from 11.44% as at December 2018.
He said this will be possible with the improved coordination of fiscal and monetary policies, exchange rate stability, improved oil export earnings and capital inflows, as well as the continuation of the current prudent management of foreign exchange reserves by the CBN.
“Government is committed to growing the economy, and accordingly the 2019 Budget Proposal has been designed to continue to provide the stimulus and support required to spur growth in the economy,” he said.
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