Connect with us


Nigeria’s growth forecast will slow to 2.3% – IMF



Spread The News

The International Monetary Fund said it has cut its growth forecast for Nigeria due to persistent slide in its economy arising from low crude prices.

IMF in its annual review of Nigeria’s economic situation said that gross domestic product growth will slow to 2.3 per cent in 2016 from an estimated 2.7 per cent in 2015.

ALSO SEE: Economist disagrees with IMF on VAT increment

It added that Nigeria’s general government deficit will grow further after doubling to 3.7 per cent of Gross Domestic Product (GDP) last year.

The IMF executive board said Nigeria needed to urgently implement policies to safeguard fiscal sustainability, reduce external imbalances and advance structural reforms that promote more inclusive growth.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.