Nigeria president presents $31.35 bln budget to assembly
ABUJA, Oct 10 (Reuters) - Nigeria's President Goodluck Jonathan presented a 4.93 trillion naira ($31.35 billion) budget to parliament for 2013 on Wednesday, increasing spending but shinking the deficit and cutting the share taken by recurrent expenditure.
The budget proposal asssumes oil production of 2.53 million barrels per day (bpd), up slightly from 2.48 million bpd this year, and a global oil price of $75 a barrel, up from $72 a barrel in this year's budget.
The fiscal deficit and domestic borrowing would come down to 2.17 percent of GDP, from 2.85 percent previously, assuming the economy grows at 6.5 percent, he said -- a lower projection than this year's expected 6.85 percent growth.
He added that the government would issue a $1 billion Eurobond to finance a gas pipeline for domestic use.
($1 = 157.2700 naira)
(Reporting by Camillus Eboh; Writing by Tim Cocks)
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Keywords: NIGERIA BUDGET/PRESENTATION