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.
-
Trending Stories1 week agoDavido, Wizkid, Burna Boy or Asake: Who is having the biggest 2026 so far?
-
Football1 week agoPremier League releases 2026/27 festive fixtures, 7 matches set for Boxing Day
-
Crime6 days agoAnambra Police arrest mother over alleged child sexual exploitation
-
Business5 days agoJetour Nigeria, dealers take dashing, other models to Abuja Experience
-
Business6 days agoDangote Refinery IPO shifts spotlight to corporate governance, investor protection
-
Business3 days agoDangote IPO rush crashes Bamboo login as investors flood platform
-
Business2 days agoAbuja gears up for Jetour T2’s rugged-luxury experience
-
Business3 days agoNigeria Business Outlook: Dangote IPO, markets, inflation and naira in focus this week