The International Monetary Fund, IMF, has on Tuesday, October 4, predicted that Nigeria’s hunger and recession, will not end anytime soon.

The prediction is coming at a time when President Muhammadu Buhari, had during his Independence speech, identified and marshaled out workable economic plans, on how his administration tends to recover Nigeria’s economy from recession.

‎IMF, while giving its prediction in Washington DC, ‎United States, US, projected that Nigeria’s economy will be out of recession in 2017, growing by 0.6 percent that year.

‎Based on the IMF World Economic Outlook, WEO,‎ the current economic recession will outlast 2016, with a Gross Domestic Product, GDP, contraction of 1.7 percent.

“Sub-Saharan Africa’s largest economies continue to struggle with lower commodity revenues, weighing on growth in the region.

“Nigeria’s economy is forecast to shrink 1.7 percent in 2016, and South Africa’s will barely expand.

“By contrast, several of the region’s non resource exporters, including Côte d’Ivoire, Ethiopia, Kenya, and Senegal, are expected to continue to grow at a robust pace of more than 5 percent this year,”‎ the IMF said.

For other European countries, ‎IMF also forecast a GDP contraction, and subsequent recession for Russia and Brazil, throughout 2016.

“Growth in emerging Asia, and especially India, continues to be resilient.

“India’s Gross domestic Product, is projected to expand 7.6 percent this year and next, the fastest pace among the world’s major economies,”‎ the IMF added.

‎The IMF Chief Economist and Economic Counselor, Maurice Obstfeld, who spoke on the outlook, said global economic growth would remain subdued in 2016, following a slowdown in the United States and Britain’s vote to leave the European Union.

‎He also stated, that the fund forecasts a slight pickup in 2017 and beyond, driven mainly by emerging market strength.

“Taken as a whole, the world economy has moved sideways,” he said. “We have slightly marked down 2016 growth prospects for advanced economies, while marking up those in the rest of the world,”‎ Obstfeld said.

It could be recalled, that IMF had in 2015,‎ projected that the Nigeria’s economy will contract by 1.8 percent in 2016, but the October version of the WEO has seen that reviewed positively, to a contraction of only 1.7 percent.

Nigeria since the emergence of President Buhari, has recorded a 0.36 and 2.06 percent contraction in the first and second quarter of 2016, plunging into its worst recession in 29 years.
[url]
http://www.post-nigeria.com/shock-as-imf-blows-hot-makes-dangerous-prediction-on-nigerias-economy[/url]/

That is what happens when you have a President that only thinks in terms of I'm Flank and they are not my people. The we against them policies of Buhari helped to worsen an already precarious situation.


Now everyone is pretending like we didn't know how we got here.

Thank you Afonjas with ur slave masters for these ur landmark achievements..... Next time you vote wisely recession don't know who is 5% or 97%

apriko:
Thank you Afonjas with ur slave masters for these ur landmark achievements..... Next time you vote wisely recession don't know who is 5% or 97%

Typical flattinovic! Afonja this, Afonja that.

Your God Maazi Nnamidddiit is celebrating 1 year anniversary in Kuje today. Instead of you to think of how to rescue him,
you're here typing nonsense

Hope for nigeria

BekiOloye:


Typical flattinovic! Afonja this, Afonja that.

Your God Maazi Nnamidddiit is celebrating 1 year anniversary in Kuje today. Instead of you to think of how to rescue him,
you're here typing nonsense

See painnnnnnnnnnnnnnnnnn

Apc i hail thee.

This doesn't stop my shine.

God's on the throne

There is hope for me. If I have hope, Nigeria has hope as long as she is still living.

Obvious to the blind . Exactly what I have been saying too.
It would take a serious level of ingenious governance and national unity to get Nigeria back to what it initially was before this govt-which was nothing much anyway but still a growing economy.

Cjrane2:
That is what happens when you have a President that only thinks in terms of I'm Flank and they are not my people. The we against them policies of Buhari helped to worsen an already precarious situation.


Now everyone is pretending like we didn't know how we got here.

Try to read before commenting. Dont just look at headline then jump to start typing rubbish. Nigeria is not the only country in recession, almost all d oil exporting countries face d same. These kind of childish biased sentiments shld stop!

Afonjas don't have sense at all

4get it. IMF not our God.

blackpanda:


Try to read before commenting. Dont just look at headline then jump to start typing rubbish. Nigeria is not the only country in recession, almost all d oil exporting countries face d same. These kind of childish biased sentiments shld stop!

Stop displaying Ignorance, while there was global recession, why did it not happen in Nigeria.... Is called good management.
What caused Buhari's military regime, to slip into recession? You voted an illiterate.

Nigeria still has hope joor..But buhari sef, try and shake body small

See how Tinubu and Atiku led us into recession

Useless government.

brace up urselfs, fasten ya sit belts d change is real

For those who already have manageable family there is hope, but if you're one of those who like plenty SHIDRENS , this one na die in this period wey we dey o.
Na now Nigerians go know WHY CHINA NO DEY BORN PASS ONE PIKIN .
Imagine those who can't even take care of one child having a dozen, Nigeria is not the only country to suffer economic recession, other countries too have suffered it and survived, we shall survive.
Though our leaders were USELESS, can some of us absolve ourselves? living like there is no tomorrow?, those who invested their hard earned money when money was available i congratulate you and those who spent theirs too on frivolities and worldliness accept my sympathy.
The bottom line is that tough times don't last, tough people do.

Thank you for reminding us. I hope Kemi has been notified.

Has naija ever had hope before? With all sorts of vagabonds in power all over the place?

Strangers?? Is it not the same strangers that brought him to power?? Go and sleep madam.........