Nigerian government expected to raise VAT to 15% by 2027, forecasting 5% fiscal deficit in 2024, naira depreciation, and inflation.
The Nigerian govt is expected to raise VAT from 7.5% to 15% by 2027 to fund fiscal deficits and debt service, predicts the Economist Intelligence Unit (EIU) Country Report. This could lead to a fiscal deficit of 5% of GDP in 2024, while the naira is forecast to depreciate to N2,381 per dollar by 2028. Inflation is predicted to average 30.3% in 2024, falling to 20.7% in 2025 and 11.7% in 2028.
March 18, 2024
3 Articles