Nigeria On Right Track To EconomicRecovery — Jonathan

President Goodluck Jonathan yesterday said that in spite of worrying
insecurity confronting the country and the global economic instability
that the nation's economy is witnessing a boom.
[image]"At a time many advanced and emerging markets are being
downgraded, our sovereign credit ratings have been steadily upgraded,"
Jonathan said in Abuja while declaring open the sixth Diaspora Day
celebration
He revealed that his administration is hard at work to make the
nation's democratic institutions stronger and adding that issues of
governance and corruption were also being vigorously tackled on all
fronts.
According to him, the country has beenable to further reduce the
fiscal deficit in 2013 Budget to 1.81 per cent of GDP, and
significantly cut domestic borrowing.
He said: "We have rebalanced our spending in favour of capital
expenditure. The rate of inflation also dropped to single digit
territory at the beginning of this year."
President Jonathan, who was represented by Vice-President NamadiSambo,
appealed to Nigerians in the Diaspora to bring their experience,
expertise and contacts to bear on all facets of national life.
He added that the Diaspora conferenceshould now "constitute a viable
and proactive platform for marshalling Nigerians abroad to transfer
their competences and technical skills as a means of strengthening our
technological base and in furtherance of profitable investments, which
will inturn create jobs here."