The United States has become China’s largest source of service imports, contributing the most to China’s deficit in serv... Lekki Gardens, Nigeria’s Premier Pan African Property Investment Company is upgrading and beautifying some of her comple... Toyota on Friday almost doubled its full-year forecasts, saying sales and production were recovering quickly from the co... Election results sourced from DW; based on Associated Press data. In 2013, President Xi Jinping coined the phrase "the Chinese Dream" to capture the country's domestic, regional, and global ambitions.

“Government can also buy back “trapped loans” and mediate more flexible repayment plans for private sector operators; and we call for accelerated disbursement of palliatives and loans to workers in the informal sector. 316 billion. The additional money is to be spent on a military modernization program that was approved during the Obama administration and is intended to continue for another 20 to 25 years. ‘’We are also concerned about the debt crisis facing the private sector. Last year (2019) witnessed another sharp rise from the first quarter figure of N24.

This Christmas season I had intended to engage in a critical investigation of religion given the powerful theological si... By Douglas Anele Supposing an alien from another planet or solar system visits the earth with capacity to rank the vario... Denrele Animasaun Never be afraid to raise your voice for honesty and truth and compassion against injustice and lying a... Budget 2020: FG in fresh bid to borrow N5.51trn, [People Talk] COVID-19: Should FG reopen churches, mosques? At the Importers and Exporters Foreign Exchange (IEFX) window, where the bulk of foreign exchange transactions are consummated, the exchange rate recently depreciated from about N360/US$1 in January, 2020 to over N385/US$1. 947 trillion to its last quarter with a stock of N27.

While the CBN continues to make strenuous efforts to stabilize the exchange rate, it is generally expected that the Naira will suffer further devaluation as Nigeria is projected to lose about US$26 billion in oil revenues, its principal source of foreign currency. There is NASA’s $21.5 billion budget. Additionally, the First-Line deductions by NNPC for Federally Funded Upstream Projects/Expenditures have been significantly reduced by 65% from N1.223 trillion to N424.23 billion. READ our Privacy-policy and cookie policy. However, by the first quarter of 2016, the total debt stock jumped to N13. The U.S., as noted, spent $649 billion, but that represents a reduction of 17% during the same period. That was enough for China to take second place on the list, outspending a top 10 that also includes Saudi Arabia, India, France, Russia, the U.K., Germany, Japan, and South Korea. Certainly, a “new economy” must emerge.”, The Managing Director/Chief Executive Officer, APT Securities Limited, Mr Garba Kurfi said: “This is mere formality since the $3.4 billion is already being collected from IMF and the other loans were already being processed by FGN. THE Federal government has asked the National Assembly to approve a total of N5.51 trillion external borrowing to fund its revised 2020 budget. To me it’s not a new thing since the loans are already being processed. The U.S. spent $649 billion on its military to 2018, according to a report published in 2019 by the Stockholm International Peace Research Institute. 387 trillion or $79. The external debt also moved to $11.406 billion. Borrowing in the midst of crisis to finance recurrent expenditure is ill advised.

In lead debate on the general principles of the Bill, Senate Majority Leader, Senator Yahaya Abdullahi, APC, Kebbi North said that 2020 Appropriation Act (Amendment) Bill is now predicated on Oil production of 1.93 million barrels per day and a benchmark oil price of $25 dollar per barrel. While the Federal Government’s domestic debt stood at N8.396 trillion, states and the Federal capital Territory owed N1.690 trillion. Continuing, he said: “Government should begin to look inward, especially the capital market. According to the revised budget bill, “some non essential and deferrable expenditure (especially those classified as Administrative Capital Expenditure) were reduced in favour of growth enhancing, pro-poor funding expenditures and social sector investments in order to combat the current Pandemic as well as its negative impacts on the economy”. 656 billion. At the Importers and Exporters Foreign Exchange (IEFX) window, where the bulk of foreign exchange transactions are consummated, the exchange rate recently depreciated from about N360/ US$1 in January, 2020 to over N385/US$1.

Russia will continue to shrink in importance as part of what is happening in space. The US spends about $14 billion on the military space program. “It is of great concern that our current total debt profile is almost at par with what we owed the Paris Club before the debt amnesty of about US$18 billion from a total debt stock of US$35.994 billion. We also expect short fall from Remittance of Diaspora. I pity those that are granting these loans because they cannot be repaid. As at the first quarter of the Buhari administration, which was the end of June 2015, the national total public debt stock stood at N12. Elon Musk and SpaceX developments will prevent China from overtaking the USA in space technology. Tianhe-1, the 20 metric ton core module of the CSS, is currently scheduled to launch in 2020 on an LM-5B.69 Two science modules are scheduled to launch by the end of 2022, completing the station, and the CSS will have the potential for further expansion. Other critical provisions such as N22.73 billion for routine immunization in the Service Wide Votes and N81.14 billion for the Power Sector Reform Programme has been retained.”. That's significantly more than China, second on the list of top military spenders.

Special Considerations on Military Spending, Brazil, Russia, India, China and South Africa (BRICS), HTG (Haitian Gourde) Definition and History, Stockholm International Peace Research Institute. The offers that appear in this table are from partnerships from which Investopedia receives compensation.

Which companies and technologies will continue to outperform. In 2017, China spent about $8.4 billion on its civilian and military space budget while Russia cut its space program back to $3 billion. 118 trillion, about $63. By the third quarter of that year, domestic debt moved marginally to N10.

The new Appropriation  Bill sent to the Senate, yesterday, by President Muhammadu Buhari, which scaled Second Reading immediately, also indicated a revision of key macroeconomic parameters, while projected oil revenues for 2020 was significantly reduced. China is a distant second at $250 billion. 656 trillion, as well as an external debt of $11. The provisions for Personnel and Pension cost was retained at N2.83 trillion and N536.72 billion respectively.

‘’Yes, government public debt is growing, what government should do is to ensure more transparency in the use of the borrowed fund to earn public confidence and also to eliminate any projects or programmes that can be undertaken by the private sector operators so that the government’ cash requirements will go down.|”. If China continues to meet its declared space goals, it may be the only country to have an active space station after U.S. government funding for the International Space Station (ISS) ends in 2024, and it may begin to establish a research station on the moon by 2025. There has been a slow-down of global economic activities as most countries are on lockdown with movement only limited to essential goods or persons performing essential services. 612 trillion and sub-nationals responsible for the balance of N1.655 trillion. Adjusted downwards also are non-oil revenue projections, including various tax and customs receipts. The time is now.”.

Reacting Victor Chiazor, Managing Director, FSL Securities, said that the federal government’s request to the National Assembly, NASS to raise fresh external borrowing to the tune of  $5.5  billion is not a surprise, arguing that the government does not have the financial resources to fund the revised 2020 budget.

The decrease is largely attributable to the impact of the decline in crude oil receipts. China has at least four space startups pursuing reusable rocket technology.

He is open to public speaking and advising engagements. The U.S. continues to be the world's top military spender by far, at $619 billion in 2018. This should be transparent and inclusive and monitored by mass-based groups. In separate letters to the two chambers of the National Assembly, the revised budget was predicated on oil price benchmark of $25 dollar per barrel as against $57per barrel in the earlier approved budget and the first revised benchmark of $30.