Nigeria’s economy is projected to grow by 2.1 percent this year according to the International Monetary Fund.
The prediction which represents 0.2 percent from the 1.9 percent projected in October 2017 was contained in Fund’s World Economic Outlook Update, released on Monday.
Though, the IMF upgraded its growth forecast for the global economy in 2018 to 3.9 percent, it however downgraded the 2018 and 2019 growth forecasts for sub-Saharan Africa to 3.3 percent respectively.
The Britton Woode Institutions said “The growth pickup in Sub-Saharan Africa (from 2.7 percent in 2017 to 3.3 percent in 2018 and 3.5 percent in 2019) is broadly as anticipated in the fall, with a modest upgrade to the growth forecast for Nigeria but more subdued growth prospects in South Africa, where growth is now expected to remain below 1 percent in 2018-19, as increased political uncertainty weighs on confidence and investment.
Source: Africafeeds.com
