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Thursday, 12 January 2017

World Bank predicts Nigeria will get out of recession this year


The World Bank has released its January 2017 Global Economic Prospects report(read here) in which it predicted that Nigeria will get out of the current economic recession this year. The report in part reads...

“Sub-Saharan African growth is expected to pick up modestly to 2.9 per cent in 2017 as the region continues to adjust to lower commodity prices. Growth in South Africa and oil exporters is expected to be weaker, while growth in economies that are not natural-resource intensive should remain robust. Growth in South Africa is expected to edge up to a 1.1 per cent pace this year. Nigeria is forecast to rebound from recession and grow at a 1 per cent pace. Angola is projected to expand at a 1.2 per cent pace.”

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