The Central Bank of Nigeria has said it sees the country’s inflation rate dropping to single digit next year, with the full implementation of its recent policies designed to boost different sectors of the economy.
The Director of Monetary Policy Department, CBN, Dr Hassan Mahmud, said this on Friday at the virtual mid-year economic review and outlook 2021, which was organised by the Chartered Institute of Bankers of Nigeria’s Centre for Financial Studies and B. Adedipe Associates.
Mahmud said since the economy recovered from recession in the last quarter of 2020, it had maintained a path of recovery despite certain challenges triggered by the COVID-19 pandemic and insecurity. According to him, if certain things were in place, the country would experience some positive projections in 2021 and the beginning of 2022.
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