Tuesday, April 13, 2021

IMF forecasts higher economic growth for Nigeria in 2021

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The International Monetary Fund has projected an economic growth of 2.5 per cent for Nigeria in 2021.

This is higher than the 1.5 per cent IMF’s 2021 forecast earlier announced for the country in January.

The Washington-based institution made this known in its April World Economic Outlook report .

According to figures from the National Bureau of Statistics revealed in February 2021, Nigeria exceeded recession as its Gross Domestic Product recorded a slight growth of 0.11 per cent in the fourth quarter of 2020.

The organisation also forecast a 3.4 percent growth for the Sub-Saharan Africa region in 2021 and this is 0.2 percent higher than the previous forecast for the region.