BANGKOK — The Federal Government is considering a conditional tax-credit scheme, to be called the Economic Development Incentive, as an alternative to tax holidays, Finance Minister Taiwo Oyedele said at the IMF and World Bank meetings. He said his ministry and the National Bureau of Statistics are also developing employment statistics and a producer price index. Central Bank Governor Olayemi Cardoso said inflation has fallen from 34–35 per cent to about 15 per cent, that the medium-term target is single digits, and that the bank is moving towards a formal inflation-targeting framework. Debt Management Office Director-General Patience Oniha said government borrowing in the fourth quarter will be similar to the third, after slower activity in the first half of the year.
FG Considers Conditional Tax Credits in Place of Tax Holidays
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