Nigeria Will Get Out Of Recession This Year – World Bank


The World Bank has predicted that Nigeria will get out of recession and grow its Gross Domestic Product by one percent this year after plunging into its worst recession in over two decades.
The bank said in a statement on Wednesday, “Sub-Saharan African growth is expected to pick up modestly to 2.9 percent 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.
 President of World Bank Group, Jim Yong Kim, said, “After years of disappointing global growth, we are encouraged to see stronger economic prospects on the horizon.

“Now is the time to take advantage of this momentum and increase investments in infrastructure and people. This is vital to accelerating the sustainable and inclusive economic growth required to end extreme poverty.”

No comments:

Powered by Blogger.