Neco 2022 Government Question 31
Practice objective / multiple choice question 31 from the 2022 Neco Government examination.
A state's internally generated revenue (IGR) this year is \(\text{₦}1.5\) billion and is expected to grow by \(8\%\) next year. The federal allocation to the state consists of a fixed grant of \(\text{₦}200\) million plus a variable component equal to \(30\%\) of the state's IGR for that year. The state plans to spend \(110\%\) of its total revenue (IGR plus allocation) next year. Calculate the fiscal deficit the state will face next year, giving your answer in millions of naira.
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About This Question
This is Neco 2022 Government Question 31. It is one of the objective questions from the 2022 Neco Government examination.
Difficulty level: Hard .
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