World Bank: “Nigeria Will Rebound From Recession This Year”.
The World bank has released its 2017 projected growth for global economy. The institution predicted that Nigeria, South Africa, and Angola will experience economic growth. The report states that Nigeria will get out of recession, and grow its gross domestic product (GDP) by one percent in 2017.
Here is the report:
“Sub-Saharan African growth is expected to pick up modestly to 2.9 per cent in 2017 as the region continues to adjust to lower commodity prices. Growth in South Africa and oil exporters is expected to be weaker, while growth in economies that are not natural-resource intensive should remain robust. Growth in South Africa is expected to edge up to a 1.1 per cent pace this year. Nigeria is forecast to rebound from recession and grow at a 1 per cent pace. Angola is projected to expand at a 1.2 per cent pace.”
This prediction is coming after the International Monetary Fund (IMF) said that Nigeria’s economy will be out of Recession in 2017, and will grow by 0.6%.
Guess we’ll just have to keep our fingers crossed and hope for the best!