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The Conduct of Fiscal Policy
Fiscal Policy 1993
The 1993 policy thrust focused on addressing the sluggish performance of the productive sectors, especially the manufacturing sector, enhancement of private sector involvement in productive activities, unemployment, the depreciating Naira and external debt problem.
In 1993, the retained revenue of the Federal Government rose by N9, 833.1 million or 15.5 per cent to N73, 397.9 million. Government expenditure increased in an aggregate by N66.801.1 million or 62.0 percent to N174, 524.4 million. Accordingly, the overall budget deficit of the government amounted to N101, 126.5 million, representing an increase of N45, 177.4 million or 80.8 per cent over the previous year.