Nigerian Senate approved budget for 2020 year - the country has reached the highest performance, having approved a total 35 billion dollars in expenses.
A deficit in 1,52% of the estimated GDP of Nigeria, - about 6 billions of dollars, - for financing through external and internal borrowing, Reuters reports. The plan for the coming year also includes the estimated indicators for crude oil production - in 2020 year Namibia plans to extract 2,18 million barrels per day at oil price 57 dollars per barrel. Compared to income plan, by the Senate by the President of Nigeria Muhammad Bukhari in October, the budget is slightly increased.
Earlier on Wednesday, the international rating agency Moody's Investors Service changed its rating outlook for Nigeria from stable to negative.. Allafrica cited increased risk to government revenues as the reason for the forecast downgrade - the Nigerian economy remains vulnerable to changes in oil prices.
Author: Sergey Petrov
