L
LequteMan
Guest
The Minister of Budget and Planning, Udoma Udo Udoma, on Wednesday announced that things are being put in place to ensure that the country is out of recession by the end of the year.
Speaking after the FEC meeting in Abuja, he said:
“Yes, we are determined to get the economy out of the recession before the end of this year. And the 2017 budget is structured to do just that.
“So that is why we are anxious to get the budget passed so that we can begin the implementation and begin to take all the steps we need to get the economy out of recession.”
“With regards to the NBS report, as you are aware, the fourth quarter of the economy contracted by 1.3 per cent, which is lower level of contraction than the previous year and which indicates that we are already turning and we are beginning to recover even though we are still in recession.
“And the overall result was better than what many people projected. The IMF report had thought the GDP for 2016 was going to be -1.8 per cent and it turned out -1.5, so that’s better than expected but we are not out of the woods.
“It is encouraging but we have to do and continue to do more to make sure that we get the economy out of the recession this year.
Speaking after the FEC meeting in Abuja, he said:
“Yes, we are determined to get the economy out of the recession before the end of this year. And the 2017 budget is structured to do just that.
“So that is why we are anxious to get the budget passed so that we can begin the implementation and begin to take all the steps we need to get the economy out of recession.”
“With regards to the NBS report, as you are aware, the fourth quarter of the economy contracted by 1.3 per cent, which is lower level of contraction than the previous year and which indicates that we are already turning and we are beginning to recover even though we are still in recession.
“And the overall result was better than what many people projected. The IMF report had thought the GDP for 2016 was going to be -1.8 per cent and it turned out -1.5, so that’s better than expected but we are not out of the woods.
“It is encouraging but we have to do and continue to do more to make sure that we get the economy out of the recession this year.
