Osinbajo panel plans stimulus for imminent recession

Harboursandports.com:Lagos - The Federal Government has said it is working out a stimulus package that will take the country’s economy out of global recession to positive growth in 2021.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said this while fielding questions from State House Correspondents on Thursday, following a meeting of the Economic Sustainability Committee presided over by Vice-President Yemi Osinbajo.

Ahmed stated that the global economy would go into recession in 26020 as a result of the coronavirus pandemic.

According to her, the prediction of the International Monetary Fund that Nigeria would go into a negative growth of 3.4 per cent next year is based on an assessment of the National Bureau of Statistics.

Ahmed said, “But if we take all these measures that we are planning now, we will be able to, by 2021, go back into positive growth. That is why this is very important.”