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Bullion

Keywords

Budget, Revenue and expenditure. Nigeria economy.

Abstract

The budget is an important tool of economic management. Usually, it presents estimates of Government revenue and expenditure for a fiscal year. The objective of this paper is to provide an overview of the fiscal policy measures in the 2004 Budget. This paper contains the background to the budget, the policy thrust and the key parameters. It highlights the revenue and expenditure estimates and identifies the policy priorities and prospects. Finally, a good monetary policy is expected to achieve macro economic stability and a sound financial sector if effectively implemented and barring fiscal shocks. Overall, socio-political stability and fiscal discipline are critical factors for the effectiveness of monetary policy. The efficacy of monetary policy in Nigeria has continued to be constrained by fiscal shocks.

Author Bio

The author is a staff of Central Bank of Nigeria.

Publication Title

CBN Bullion

Issue

2

Volume

28

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