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Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed said on Monday that the Federal Government may not be able to make provision for treasury-funded capital projects in 2023.
The Minister also said that the budget deficit for the 2023 fiscal year may run between N11.30 trillion to N12.41 trillion depending on the choice that will be made by the government on the issue of subsidy payment on premium motor spirit otherwise known as petrol.
The Minister also said that the budget deficit for the 2023 fiscal year may run between N11.30 trillion to N12.41 trillion depending on the choice that will be made by the government on the issue of subsidy payment on premium motor spirit otherwise known as petrol.On the key assumption on which the 2023 budget will be based, the Minister said oil benchmark for 2023 is estimated at 70 dollars per barrel with an oil production benchmark of 1.69 million litres per day and an exchange rate of N435.02 to the dollar while inflation is expected to grow at 17.16 percent.
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