The International Monetary Fund (IMF) has upgraded Nigeria’s economic growth projection to 3.2 percent in 2023.
February 1, 2023 6:29 PM
The Washington-based institution, in its recently released January 2023 world economic outlook , explained that the small upward revision for Nigeria’s growth in 2023 was due to measures to address insecurity issues in the oil sector. Unlike sub-Saharan Africa, the IMF said growth in the Middle East and Central Asia would decline from 5.3 percent in 2022 to 3.2 percent in 2023.
Overall, the IMF said global growth is projected to fall from an estimated 3.4 percent in 2022 to 2.9 percent in 2023, then rise to 3.1 percent in 2024.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cameroon reaches $74.6m staff-level agreement with IMF amid inflation | TheCableThe International Monetary Fund (IMF) has reached a staff-level agreement with Cameroon that will give the country access to $74.6 million in financing.
Read more »
TheCable's James Ojo wins collaborative journalism award | TheCableJames Ojo, a journalist with TheCable, has been named one of the winners of the 2022 Hostwriter prize...........
Read more »
TheCable's James Ojo wins international journalism award | TheCableJames Ojo, a journalist with TheCable, has been named one of the winners of the 2022 Hostwriter prize...........
Read more »
2023: UN chief tasks Nigerian judiciary on impartial adjudication of electoral casesUnited Nations chief advised Nigerian judges to be neutral in their adjudication of electoral disputes that may arise from the forthcoming...
Read more »
Nigeria’s economy to grow by 3% in 2023 — UNCommodity exporters in Africa will likely face weaker market conditions given the expected global economic slowdown, it said.
Read more »
2023 polls: Massive turnout in Igbo-Etiti as Nwodo, others commend Gov. Ugwuanyi, back PDP candidatesA former Governor of old Enugu State and former National Chairman of the Peoples Democratic Party (PDP), Dr. Okwesilieze Nwodo and the former Deputy
Read more »