GTBank, one of the most respected financial institutions in Africa has released its 2015 Economic Outlook.
The 11 page report reviews the 2014 financial year and makes predictions for the present year.
According to the document, the 2015 elections are expected to be free and fair. The paper lists other prospects for macroeconomic importance to be:
- Weak oil prices in H1 2015
- Further Pressures on the Exchange Rate
- Slower GDP Growth
- Growth of Import Substitution Programs
- Capital Flows
The document also highlights the intention of the Federal Government to boost revenue by focusing on Luxury Tax.
According to the report, the FG will earn N3.7 billion from private jet import surcharges, NN1.6 billion from luxury yacht surcharges, N2.6 billion from luury car surcharges, and N2.3 billion is expected to be generated from champagne, wines and spirits.
See the full report here.
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