Global Economy –Rundown:
The United State Producers Price index for the month of June tanked by 0.2%, and the 12 months average of same parameters for the month revealed a 0.8% dip, which is at par with May’s 12 months average. The compressed Producers Price Index was fueled by subdued services sector weakness. Given the level of economic activity still pegged back, while the Nation’s inflationary target within the medium-term may be unattainable.
Domestic Economy –Rundown:
The Nation was able to realise the sum of N1.48 trillion as the aggregate revenue to the government within the first five months of the year, the breakdown of the earned amount revealed that the sum of N701.6 billion was from oil revenue, while Non-oil revenue accounted for N439.32 billion. However, majority of the compressed revenue was submerged by the government loan obligation, as the sum of N1.25 trillion was disbursed on debt servicing within the five months period. Read more