By Omeiza Ajayi & Prince Okafor
Lagos—The Federal Government has said it would soon forward the 2017 budget to the National Assembly, noting that the fiscal policy proposal was targeted at stimulating private sector investment and fast-tracking the exit of the economy out of recession.
Government said the renewed emphasis on stimulating private sector investment was predicated on its belief that it was only by partnering with the private sector that the economy could be thrusted onto the path of sustainability and brought out of recession.
A statement signed yesterday in Abuja by the Media Adviser to the Minister of Budget and National Planning, James Akpandem, said the minister Udo Udoma gave the indication yesterday in Lagos at a breakfast interaction with Chief Finance Officers of top private sector corporate entities, facilitated by KPMG Consulting.
“The good news is that the Budget is almost ready. We are almost through with our consultations with the National Assembly on the Medium Term Expenditure Framework and the outlines of the 2017 Budget, and will soon be submitting it to the National Assembly for their consideration”, the minister was quoted as saying.
Noting that Budget is one of the most important instruments of achieving economic objectives of Government, the Minister explained that in setting out the spending plan and other priorities of government, the annual budget plays an important signaling role for private economic actors.