Connect with us

Economy

We Are Borrowing Wisely – Minister of Finance

blank

Published

on

We Are Borrowing Wisely – Minister of Finance, Zainab Ahmed

Minister of Finance Zainab Ahmed has stated that the present administration is prudently borrowing to address the country’s infrastructure deficit.

Ahmed, speaking at a news conference on the National Bureau of Statistics’ (NBS) latest report on the economy’s growth, remarked that there will be regrets if no investment returns revenue in the future.

READ ALSO: After NDA Attack, Mbaka Warns Over More Coming Troubles, Calls For Nnamdi Kanu’s Release

blank

According to the Minister, the country’s economy would have risen faster than 5% in the second quarter of 2021 if not for security concerns that slowed agricultural growth.

She said;

“The 2021 second quarter growth reflects better economic performance compared to the same quarter last year. The same quarter last year, we had a negative growth of -6.10 percent. It is also better than the first quarter of 2021. 

“The service sector recorded a strong performance, growing by 9.27 percent this reporting quarter, representing the fastest growth in this sector since 2010.

“The second quarter growth of 2021 would have been much stronger than the 5.01 percent but for agriculture that recorded a slightly lower growth.

“A number of bottlenecks within the system including insecurity which has negatively affected the sector negatively. Also, the industrial sector slowed down to -1.3 percent.”

Ahmed also said that the non-oil sector contributed majorly to the growth witnessed in the second quarter.

She said;

“The non-oil sector recorded a growth of 7 percent which represents the fastest growth since the third quarter of 2014.”

SUBSCRIBE TO OUR YOUTUBE CHANNEL

Ray Nkemdirim Foundation Revives Schools Quiz In Abia
blank

blank


DISCLAIMER


For publication of your news content, articles, videos, or any other newsworthy materials, please send to abnonlinetv@gmail.com

For Advert and other info, you can call 07013559600 or send a WhatsApp Message to 07013559600

Advertisement
Click to comment

Leave a Reply

Your email address will not be published.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

Trending

blank
DOWNLOAD THE ABN NEWS ALL IN ONE MOBILE APP
Now Available On:
blank