DELTA TARGETS N306B BUDGET, APPROVES 2021-2023 MTEF/FSP

Written by on September 7, 2020

DELTA STATE HAS APPROVED THE REVISED 2021 TO 2023 MEDIUM TERM EXPENDITURE FRAMEWORK AND FISCAL STRATEGY PAPER (MTEF/FSP) AT ITS VIRTUAL MEETING PRESIDED OVER BY GOVERNOR IFEANYI OKOWA.

THE COMMISSIONER FOR INFORMATION, CHARLES ANIAGWU, WHILE BRIEFING CORRESPONDENTS AT THE END OF THE STATE EXECUTIVE COUNCIL (SEC) MEETING IN ASABA, SAID THE GOVERNMENT ALSO APPROVED A PROJECTION OF N306.44 BILLION BUDGET FOR THE 2021 FISCAL YEAR.

ANIAGWU LISTED OTHER PROJECTIONS IN THE BUDGET AS $40 PER BARREL OIL BENCHMARK, OIL PRODUCTION VOLUME OF 1.86 MILLION BARREL PER DAY, INFLATION RATE OF 11.9 PERCENT, PROJECTED GROSS DOMESTIC GROWTH RATE OF THREE PERCENT AND OFFICIAL EXCHANGE RATE OF N360/$.

ALSO, THE GOVERNMENT HAS APPROVED THE ENGAGEMENT OF TWO CONSULTANTS TO PROBE THE SUSPECTED SHORTFALLS IN THE PAYMENT OF OIL PROCEEDS ON THE PRINCIPLE OF 13 PER CENT DERIVATION BY THE FEDERAL GOVERNMENT.


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