TheCable

Niger’s parliament has approved a 2017 budget of 1.809 trillion CFA francs ($2.9 billion), a slight increase from the current year’s 1.807 trillion CFA francs, Reuters is reporting.

According to Reuters, Nigerien lawmakers approved the new budget late on Thursday. A breakdown of the figures provided by the finance ministry on Friday showed expected internal revenues of 1.07 trillion CFA francs, including 1.023 trillion CFA francs from taxes.

This is coming at a time when neighbouring Nigeria, and Africa’s biggest economy is seeking funding for the implementation of its 2016 appropriation act.

Nigeria’s federal government says it has been in talks with African Development Bank, World Bank, and the Japanese International Cooperation Agency (JICA) for loans to fund the 2016 budget deficit.

In Niger, external revenues are to bring in 614.4 billion CFA francs while treasury bonds are expected to accrue 124 billion CFA francs.

Expenditures included 1.009 trillion CFA francs in investment spending, 188.4 billion CFA francs to service debt, 261.9 billion CFA francs for staff costs and 129.6 billion CFA francs on goods and services

The Nigerian budget office has however sent its medium term expenditure framework to the national assembly, but the legislature declared it empty.