BUDGETS AND REVENUES
Nigerias Draft Budget Based On $22-23/B Oil Price; Mexico On $20/B
The Nigerian Government has based its 2004 draft budget on an assumed oil price of $22-23/B compared to the $22/B price forecast for the 2003 budget. The proposed 2004 budget anticipates a 147bn ($1.1bn) naira deficit. The budget includes a 403bn naira ($3bn) payment of domestic and foreign debt. Revenue is projected at 1 trillion naira ($7.4bn) with expenditure pegged at 1.167...