A new survey released by Bloomberg has projected that
Nigeria, China, the Philippines, Kenya, India and Indonesia
will rank among the 20 fastest growing economies in world
this year.
In an accompanying chart by the New York-based financial
newswire service, Nigeria with an expected growth rate of
4.9 per cent was ranked sixth behind China (7 per cent), the
Philippines (6.3 per cent), Kenya (6 per cent), India (5.5 per
cent) and Indonesia (5.4 per cent).
Other countries that made the list of 20, dominated by
emerging economies in Asia and Africa, include: Malaysia in
seventh place, Peru, Thailand, United Arab Emirates (UAE),
Kazakhstan, Colombia and Saudi Arabia.
Others are Taiwan, Turkey, South Korea, Poland, Mexico,
Ireland and Singapore.
According to Bloomberg, “Emerging markets in Asia and
Africa still reign supreme: They’re at the top of global
growth projections over the next two years.
“The world is expected to grow 3.2 per cent in 2015 and 3.7
per cent next year after expanding 3.3 per cent in each of
the past two years," according to a Bloomberg survey of
economists.
“China, the Philippines, Kenya, India and Indonesia, which
together make up about 16 per cent of global gross
domestic product, are all forecast to grow more than 5 per
cent in 2015.”
By comparison, the United States (US) and United Kingdom
(UK), which combined account for about a quarter of global
growth, are expected to grow 3.1 and 2.6 per cent this year
respectively, said Bloomberg.
“The euro area probably will expand just 1.2 per cent as
European Central Bank President Mario Draghi deals with a
fragile Greece and embarks on a bond-purchase
programme to stimulate the region's growth.
“China still remains the fastest-growing G-20 nation, even
though the Asian economy is no longer expanding at the
pace it did a few years ago.
“China's economy grew 7.3 per cent in the fourth quarter of
2014 from a year earlier, and is expected to slow to 7 per
cent in 2015.
“To counter that slowdown, People's Bank of China policy
makers are boosting monetary stimulus. The central bank
cut its benchmark interest rate in November for the first
time since 2012. This month officials lowered by 50 basis
points the deposit reserve ratio, which is the amount of
reserves that banks need to keep on hand,” the survey said.
Continuing, it added that Nigeria, Africa’s largest economy,
is projected to expand at 4.9 per cent this year, while Kenya
will probably grow by 6 per cent in 2015, even as
unemployment and poverty remain stubbornly high, with
over 40 per cent of Kenyans living below the poverty line.
“US growth forecasts for 2015 are coalescing around 3 per
cent even as the dollar soars to its highest level in more
than a decade.
“As growth picks up, the Federal Reserve is weighing
whether to raise interest rates for the first time since 2006.
Their benchmark federal funds rate has remained near zero
since December 2008.”

www.thisdaylive.com/articles/nigeria-listed-among-20-fastest-growing-economies/202874/

Quoted..
Major financial rating agencies consistently rate Nigerias
economy high, but because we are an instant gratification
society , we do not appreciate the massive economic
strides of this administration. These agencies which have
integrity can't all be wrong. Nigeria is moving in the right
economic and developmental direction and in a few years,
the impact will become apparent to even the most
skeptical. Reforms tend to frighten and frustrate instant
gratification

Na Audio! We no dey see am! So na wash!

This is a cheering news from Bloomberg. It is a clear sign
that people who know what to do about economy are doing
their jobs. This is not
from Nigeria. It is from a foreign evaluator. And it comes
from experts. So who
will challenge the fact that the Government is not working
despite dwindling oil
market. This should be attributed to a good and adequate
monetary policy of the
government. And this is why Economists like Soludo and
Pat Utomi(The Professors)
should appreciate the efforts of the managers of our
economy. Instead of criticizing,
I think they should come up and offer their intellectual
contributions. Nigeria
belongs to all of us. It is not until you are appointed before
you can make
useful contributions. In my view, I see this public criticism
as a sign of jealousy
and it amounts to unpatriotic cannibalism. Their good
suggestions should not be
on the pages of paper or Television Channels if they really
wish to contribute to the
development of the Nation. Congratulations to the Cord.
Minister of Economy
& Minister of Finance. It is not everybody that will
appreciate your good
work. But true and patriotic Nigerians know that you are
working. May God
continue to bless you.....
Opinion from a good Nigerian..

AmakaDNB:
Na Audio! We no dey see am! So na wash!

For your mind.