Supernaij
Nigeria fell into recession in August 2016 and since then the administration led by President Mohamed Mohamed Buhari, everything in its power to stabilize the economy.
The impact of the decline in oil prices negatively on the country, which is one of the reasons that led to the removal of subsidies and increasing fuel costs.
The IMF said that recovery in the majority of advanced hello to him, Nigeria
The IMF has just completed his consultations with Article IV with Nigeria's advice about what Congress needs to be done to save the country from recession.
has compiled a list of things that must be done on Buhary out to save Nigeria from recession.
1. stronger policy
The Congress must strengthen policies if it wants to achieve the target set by the economic recovery and economic growth plan (effectively).
"There is an urgent need for a stronger position to restore confidence and promote economic recovery macroeconomic policies."
Also read: the army will bring Abu Bakr Chicão to justice - General Ananc
2. reduce the budget deficit
He added that "Nigeria should abolish restrictions on currency trading and reduce its budget deficit and debt-servicing costs at the level of" sustainable ".
3. multi-launcher exchange rates
Currently in the country, and there are multiple exchange rates that occur in different transactions. It has been asked to remove many of these Buhary exchange rates
"The authorities should remove the remaining restrictions and multiple currency practices, and thus unify the foreign exchange market and help restore investor confidence."
Also read: The Nigerian army soldiers refused to kill the lovers attach a phone call
4 - Adjust the financial situation on the basis of revenue
To reduce the interest rate on the proportion of public money to the federal government on sustainable levels, there is "a need to consolidate public finances on the basis of revenues, starting from the year 2017".
5 - tightening monetary policy
According to the International Monetary Fund, United needed a tight monetary policy to attract capital flows, improve liquidity and stabilize the currency.
"The easing of restrictions on capital must be supported by a more stringent monetary policy and control of Mali to stabilize inflation expectations and reduce the risk of raising the exchange rate."
Also read: The National Oil Company kilograms of petroleum products sold adulterated
6. raise taxes and eliminate subsidies
It is noteworthy that Nigeria has a weak tax system does not help in the financial problems of the country.
"They stressed the need to give priority to increasing non-oil revenues, including by raising the value-added tax and tax rates, and to promote compliance, and the closure of loopholes and exemptions.
"An independent management mechanism to determine the price of fuel for the abolition of fuel subsidies, and strengthening public financial management, and the establishment of a social safety net that better guidance to support the amendment. Director stressed the need to have the state and local government fiscal deficit, including through improved transparency and monitoring. "
President Mohamed Buhari are trying to revive economic growth in the United States with a budget of 7.3 trillion naira ($ 23 billion) this year. The Federal Government has approved $ 500 million ($ 1515.5 billion) of Eurobonds to finance the 2017 budget.
He wants to get $ 3.5 billion deficit to paint walls. The government issued European bonds worth $ 500 million on Wednesday as part of the 2016 budget, after winning billion in February.
The man said in the video told AFP that Nigeria needs to serve the collective Kadhha.
The impact of the decline in oil prices negatively on the country, which is one of the reasons that led to the removal of subsidies and increasing fuel costs.
The IMF said that recovery in the majority of advanced hello to him, Nigeria
The IMF has just completed his consultations with Article IV with Nigeria's advice about what Congress needs to be done to save the country from recession.
has compiled a list of things that must be done on Buhary out to save Nigeria from recession.
1. stronger policy
The Congress must strengthen policies if it wants to achieve the target set by the economic recovery and economic growth plan (effectively).
"There is an urgent need for a stronger position to restore confidence and promote economic recovery macroeconomic policies."
Also read: the army will bring Abu Bakr Chicão to justice - General Ananc
2. reduce the budget deficit
He added that "Nigeria should abolish restrictions on currency trading and reduce its budget deficit and debt-servicing costs at the level of" sustainable ".
3. multi-launcher exchange rates
Currently in the country, and there are multiple exchange rates that occur in different transactions. It has been asked to remove many of these Buhary exchange rates
"The authorities should remove the remaining restrictions and multiple currency practices, and thus unify the foreign exchange market and help restore investor confidence."
Also read: The Nigerian army soldiers refused to kill the lovers attach a phone call
4 - Adjust the financial situation on the basis of revenue
To reduce the interest rate on the proportion of public money to the federal government on sustainable levels, there is "a need to consolidate public finances on the basis of revenues, starting from the year 2017".
5 - tightening monetary policy
According to the International Monetary Fund, United needed a tight monetary policy to attract capital flows, improve liquidity and stabilize the currency.
"The easing of restrictions on capital must be supported by a more stringent monetary policy and control of Mali to stabilize inflation expectations and reduce the risk of raising the exchange rate."
Also read: The National Oil Company kilograms of petroleum products sold adulterated
6. raise taxes and eliminate subsidies
It is noteworthy that Nigeria has a weak tax system does not help in the financial problems of the country.
"They stressed the need to give priority to increasing non-oil revenues, including by raising the value-added tax and tax rates, and to promote compliance, and the closure of loopholes and exemptions.
"An independent management mechanism to determine the price of fuel for the abolition of fuel subsidies, and strengthening public financial management, and the establishment of a social safety net that better guidance to support the amendment. Director stressed the need to have the state and local government fiscal deficit, including through improved transparency and monitoring. "
President Mohamed Buhari are trying to revive economic growth in the United States with a budget of 7.3 trillion naira ($ 23 billion) this year. The Federal Government has approved $ 500 million ($ 1515.5 billion) of Eurobonds to finance the 2017 budget.
He wants to get $ 3.5 billion deficit to paint walls. The government issued European bonds worth $ 500 million on Wednesday as part of the 2016 budget, after winning billion in February.
The man said in the video told AFP that Nigeria needs to serve the collective Kadhha.
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