Business
Nigeria’s growth forecast will slow to 2.3% – IMF
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.
-
Business1 week agoFCCPC floors Air Peace as Court upholds authority to probe airline fare complaints
-
Latest4 days agoLagos NURTW organising secretary Toba Ajiboye dies after gunmen attack
-
Business6 days agoNCC chief highlights trust as key to Nigeria’s digital transformation
-
Politics7 days agoADC urges FG to rescue Borno, Kwara kidnap victims after Oyo schoolchildren’s release
-
Maritime5 days agoLicensed port agents back FG’s Green Tax on imported vehicles
-
Business5 days agoNCC unveils cost-sharing framework to boost broadband rollout, end repeated road excavations
-
Latest7 days agoAtiku slams presidency over Oyo school rescue ‘silence’ claim
-
Aviation5 days agoNCAA, NAMA disagree over proposed revenue sharing formula