IMF raises concerns over unrecorded spending in Nigeria’s recent fiscal accounts

IMF raises concerns over unrecorded spending in Nigeria’s recent fiscal accounts

The International Monetary Fund (IMF) has expressed concern over gaps in Nigeria’s recent fiscal accounts, saying public spending equivalent to about two per cent of the country’s Gross Domestic Product (GDP) was not captured in official budgets, resulting in a mismatch between the reported fiscal deficit and the government’s actual financing needs. The IMF’s Resident Representative in Nigeria, Christian Ebeke, disclosed this on Wednesday during…

Nigeria’s True Fiscal Deficit Bigger Than Reported, IMF Says

…Blames Off-Budget Expenditure For Statistical Gap …Says Unreported Expenditure Equals 2% Of GDP Nigeria's public spending records may be understating the

IMF Says Nigeria's Unreported Spending Equals 2% Of GDP

The International Monetary Fund (IMF) has disclosed that government expenditure equivalent to about 2% of Nigeria’s Gross Domestic Product (GDP) was omitted from recent official budget records, creating a gap between the country’s reported fiscal deficit and its actual financing requirements. Speaking at a business forum in Lagos on Wednesday, the IMF’s Resident Representative in […] The post IMF Says Nigeria’s Unreported Spending Equals 2% of G…

IMF: Nigeria omits public spending worth 2% of GDP from official budgets

Nigeria failed to record public spending equivalent to about 2% of its Gross Domestic Product (GDP) in recent official budgets, creating a gap between the country's reported fiscal deficit and its actual financing needs, according to the International Monetary Fund (IMF).  The post IMF: Nigeria omits public spending worth 2% of GDP from official budgets appeared first on Nairametrics.