Fiscal Policy And 2016 Recession In Nigeria: An Analysis Of 2017 Budget Of Recovery
Journal Title: IOSR Journal of Economics and Finance (IOSR-JEF) - Year 2018, Vol 9, Issue 6
Abstract
Nigerian recession is not accidental but a logical effect of the mindless looting of national treasuring, mismanagement of public funds, neglect of the real sector of the economy for security issues, huge cost of insecurity, over dependence on crude oil and the global crash in crude oil price which culminated into dwindling revenue accruing to the federation account. This study analyzed the efficacy fiscal policy measures taken by the government to recover the economy from recession. Using trend analysis the study found that the adoption of deficit financing and release of bailout were meant to inject money into the economy in order increase aggregate demand and revitalize the economy. However, there is policy conflict that mitigates the achievement of desire result. The study concludes that fiscal policy plays an indispensable role in recovering an economy from recession but policies conflict and delay in budget implementation mitigates the achievement of desired result in Nigeria. Finally the study recommended that government should embark on strategic spending in area with multiplier effect such as agriculture and manufacturing sector that increases aggregate demand and diversify the economy
Authors and Affiliations
Abubakar Okuwa Abdullahi, Abubakar Angulu Omaku
Keywords
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- EP ID EP414972
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