The Federal Executive Council has concluded it’s closed door meeting with an estimated budget of N13.08trn projected for the 2021 fiscal year.
This was disclosed by the Minister of Finance, Budget and National Planning, Zainab Ahmed, in a meeting with journalists at the Presidential Villa.
The breakdown of the proposed budget is N13.08 trillion total aggregate; expenditure (29% Capex), with a deficit of N4.48 trillion; FX: N379/$; and GDP growth targeted at 3%.
The Minister of Finance said that the policies put in place to ensure inclusive growth while stimulating the economy would produce the desired results.
The President would present the budget to the National Assembly next year as the Federal Government is also targeting the inflation rate at 11.96 percent.