- Federal government to raise VAT to 15% by 2027 to fund fiscal deficit and debt service obligations
- Economist Intelligence Unit predicts deficit could widen to five percent of GDP in 2024
- Naira expected to weaken to N2,381 to the dollar
- Foreign borrowing forecasted to rebuild foreign reserves
- EIU predicts a 100 basis points hike in Monetary Policy Rate to 23.75% in 2024
- Naira’s outlook for 2025 relatively stable, may close at N1,817 to the dollar
- Lax monetary-fiscal policy mix may undermine longer-term value of the naira
Source: economicconfidential.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Nigeria"
- Is Commercial Rent Subject to VAT Under Nigeria’s 2025 Tax Act?
- Why Exporters Must Still Pay VAT on Local Purchases in Nigeria: Common Misconceptions Explained
- Nigeria Centralises VAT Collection as Customs Exits, NRS Takes Over Amid Sweeping Tax Reforms
- Nigeria VAT Compliance: Navigating TaxPro Max for Digital and Non-Resident Suppliers
- Why Nigeria’s Most Vibrant States Receive Less VAT Revenue Than They Generate
