2020 Budget: Federal Government Earmarks Over N9bn For Agriculture, Rural Devt - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
December 30, 2019
The Federal Government has earmarked over nine-billion nairafor agriculture and rural development in the 2020 budget, saying theimplementation of the budget would commence on January 1, 2020.
The Minister of Finance, Budget and National Planning,Zainab Ahmed, explained that the overall deficit is two-point-one-seven-fivetrillion naira for 2020. She added that this represents 52 percent of the GrossDomestic Product, GDP, which is within the threshold stipulated in the FiscalResponsibility Act.
Zainab also noted that the deficit is to be financed mainlyby borrowings from domestic sources,seven-hundred-and-forty-four-point-nine-nine billion naira; foreign sources,eight-hundred-and-fifty billion naira and multi-lateral/bi-lateral loandrawdowns, three-hundred-and-twenty-eight-point-one-three  billion naira.
Giving a breakdown of the 2020 budget in Abuja, the Ministerexplained that the nine billion naira for agriculture would boost the promotionand development of the sector in more than thirty different commodities.