IMF reduces Nigeria’s growth to 0.8%, surging $27b reserves support forecast

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IMF reduces Nigeria’s growth to 0.8%, surging $27b reserves support forecast

According to The Guardian, Few days after the World Bank Group said the country would grow by one per cent in 2017, the International Monetary Fund (IMF) has reduced the growth rate to 0.8 per cent. The differing numbers shows the continuous changes in economic activities, which are used in measuring growth, as well as an affirmation that each forecast is not the end. – Nigeria’s growth rebound would be better than that of South Africa, projected at 0.8 per cent in 2017 and 1.6 per cent in 2018, while the sub-Saharan African economy, led by Nigeria, would record 2.8 per cent and 3.7 per cent for 2017 and 2018 respectively.

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Well Noted…