IMF retains 2.5% economic growth projection for Nigeria


IMF retains 2.5% economic growth projection for Nigeria

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By Babajide Komolafe

The International Monetary Fund, IMF, has retained its 2.5 percent projection for Nigeria’s economic growth in 2021.

IMF however upgraded its projection for the country’s economic growth in 2022 to 2.6 per cent. This represents a three basis point upgrade from the 2.3 per cent earlier projected in April.

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The latest projections were contained in the July edition of the IMF’s World Economic Outlook released yesterday.

Though it retained its projection for the global economic growth  in 2021, at 6.9 per cent, it however upgraded its projection for 2022 by five basis points to 4.9 percent.

The IMF however retained its forecast for the sub-Saharan economic region for 2021 and 2022 at 3.4 per cent and 4.1 per cent respectively.

“The 2021 forecast for sub-Saharan Africa is unchanged relative to the April…

Source: Vanguard Newspaper

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