As Proffers Solutions for Recovery…
In the just concluded week, the International Monetary Fund’s Executive Board released the report of their assessment of the 2020 Article IV
Consultation with Nigeria, highlighting the weakened state of the economy and proffering ways to improve fiscal policy sustainability, exchange rate stability, price stability and sustainable output growth.
The Executive Directors urged the Nigerian authorities to reduce fiscal sustainability risks by increasing
revenue mobilization via progressive taxation and improved efficiency in tax administration.
The suggested fiscal measures, meant to
complement ongoing reforms by the Federal
Government to reduce inefficiencies via removal of subsidies in the downstream oil & gas and power sectors, were to be accompanied by the provision of social safety nets to cushion potential negative impacts on the poor.