Monday, November 12, 2018
Advertisement

Aishah Ahmad: 2019 election spending may increase inflation

Aishah Ahmad: 2019 election spending may increase inflation
May 11
08:25 2018
Advertisement

Aishah Ahmad, deputy governor at the Central Bank of Nigeria (CBN), says the anticipated spending for the 2019 election may have inflationary effects on the economy.

Speaking at the April monetary policy committee meeting, Ahmad said there is a need for urgent passage of the 2018 budget to boost investment and economic output.

“The anticipated huge fiscal spending for the proposed 2018 budget and preparations ahead of the 2019 elections may also have inflationary effects,” Ahmad was quoted to have said in her personal statement at the meeting.

The statement was released by the apex bank.

She said: “This in itself would obviously call for a proactive and cautious monetary policy response to ensure there is no upward pressure on inflation. Thus, I would encourage quick passage of the 2018 appropriation bill by the national assembly, to keep fiscal policy on track, boost investment, employment and economic output for the benefit of the citizenry.

“It is my opinion that monetary policy considerations at this time should prioritize reduction in the general price level, exchange rate stability, and sustaining the fragile economic growth.

“We must – while we still can – encourage the positive momentum in capital flows and accretion to reserves, while accelerating the downward inflation trajectory.”

Inflation, which had doubled to over 18 percent in January 2017, started declining since February of that year and stood at 13.34 percent in March 2018.

RECEIVE ALERTS FROM THECABLE

BBM CHANNEL C0038F78B
WHATSAPP 08113975334
TWITTER @thecableng
Copyright 2018 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Tags
Advertisement

Social Comments

0 Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Write a Comment

Your email address will not be published.
Required fields are marked *

*

Advertisement
Advertisement
Advertisement

Exchange Rates

November 9, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement