Approving the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper , the Red Chamber also okayed N3.12 trillion for debt servicing, while retaining N7.89 trillion for the Federal Government in the 2021 fiscal year.
An exchange rate of N379/$ was equally sanctioned, while the projected GDP growth rate of three per cent and a predicted inflation rate of 11.95 per cent were also agreed upon. In sanctioning the document, the Senate also resolved to amend the Fiscal Responsibility Act to improve revenue generation and remittance capacity of agencies of the Federal Government.
Senate President, Ahmed Lawan, who gave the directive at plenary, said the one-hour event would be observed in strict compliance with extant COVID-19 protocols
They should just sale this country nah.. So 2020 budget has already been used now they are seeking to borrow for 2021
What's the meaning of 'OKAY' here?.. Anyways if after the debate and d budget is approved without critical evaluation and redress, then recession will continue with us. House of retired governors NASS..
They will definitely okay the loan as far as the most parcentage will go right into their pockets. It's not a new thing.
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