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5 Oct 2016

IMF Reveals Another Prediction About Nigeria's Economy...See What They Said


The International Monetary Fund has predicted that the Nigerian economy will move out of recession and grow by 0.6% in 2017.

Nigeria’s real Gross Domestic Product is expected to increase marginally by 0.6% with Consumer Prices rising by 17.1%, according to IMF’s World Economic Outlook report released on Tuesday.

Nigeria’s Current Account Balance is however forecast to slump further by 0.4% next year.

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The projected increase in global growth in 2017 to 3.4% hinges crucially on rising growth in emerging market and developing economies, Bretton Woods institution said.

Beyond 2017, IMF expects global growth to gradually increase by 3.8% in 2021.

This recovery in global activity, which is expected to be driven entirely by emerging market and developing economies, is premised on the normalization of growth rates in countries like Nigeria, Russia, South Africa, Latin America, and parts of the Middle East.

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