IMF
IMF: Nigeria’s 3.2% economic growth forecast retained
Nigeria’s economic growth rate of 3.2 per cent forecast for 2023 is retained by the International Monetary Fund (IMF).
IMF disclosed this in its recent World Economic Outlook update titled “Near-Term Resilience, Persistent Challenges.”
In the same vein, the IMF raised the forecast for global economic growth in 2023 by 0.2 per cent points to 3.5 per cent.
It, however, lowered its forecast for Sub-Saharan economic growth in 2023 by only 0.1 per cent to 3.5 per cent.
According to IMF: “In sub-Saharan Africa, growth is projected to decline to 3.5 per cent in 2023 before picking up to 4.1 per cent in 2024. Growth in Nigeria in 2023 and 2024 is projected to decline gradually, in line with April projections, reflecting security issues in the oil sector.”
The IMF had, in April,projected a 3.2 per cent economic growth rate for Nigeria.
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