The World Bank has predicted that Nigeria will get out of recession and grow its Gross Domestic Product by one per cent this year after plunging into its worst recession in over two decades.

The bank said in a statement on Wednesday, “Sub-Saharan African growth is expected to pick up modestly to 2.9 per cent in 2017 as the region continues to adjust to lower commodity prices.

“Growth in South Africa and oil exporters is expected to be weaker, while growth in economies that are not natural-resource intensive should remain robust.

“Growth in South Africa is expected to edge up to a 1.1 per cent pace this year. Nigeria is forecast to rebound from recession and grow at a 1 per cent pace. Angola is projected to expand at a 1.2 per cent pace.”

The World Bank’s January 2017 Global Economic Prospects report also projected that growth in the advanced economies would edge up to 1.8 per cent in the current year.

It stated that fiscal stimulus in major economies, particularly in the United States, could generate faster domestic and global growth than projected, although rising trade protection could have adverse effects.

Growth in emerging market and developing economies as a whole should pick up to 4.2 per cent this year from 3.4 per cent in the year just ended amid modestly rising commodity prices, the bank stated.

Emerging market and developing economy commodity exporters are expected to expand by 2.3 per cent in 2017 after an almost negligible 0.3 per cent pace in 2016 as commodity prices gradually recover and as Russia and Brazil resume growing after recessions.

It, however, added that the outlook was clouded by uncertainty about policy direction in major economies.

Commenting on the report, the President, World Bank Group, Jim Yong Kim, stated, “After years of disappointing global growth, we are encouraged to see stronger economic prospects on the horizon.

“Now is the time to take advantage of this momentum and increase investments in infrastructure and people. This is vital to accelerating the sustainable and inclusive economic growth required to end extreme poverty.”

The report noted the worrisome recent weakening of investment growth in the emerging markets and developing economies, which account for one-third of the global GDP and about three quarter of the world’s population and the poor.

The World Bank’s Chief Economist, Paul Romer, said “We can help governments offer the private sector more opportunities to invest with confidence that the new capital it produces can plug into the infrastructure of global connectivity.

“Without new streets, the private sector has no incentive to invest in the physical capital of new buildings. Without new work space connected to new living space, the billions of people who want to join the modern economy will lose the chance to invest in the human capital that comes from learning on the job.”

Source: Punch Nigeria.

I hope so because the poor people are really suffering.It is easier said than done but we can still get out of recession this year if we really want to.All we need is unity,patriotism and hardwork.Let's fight corruption,nepotism and tribalism.God bless Nigeria.

Amen fire

Amen ooo

Because as things be now

For my lodge eehh

Nothing is free again

Give me pepper,I give you same quantity of salt in return

All meaningful Nigerians pray for such.

If that's a Prophecy, I claim it with a Loud AMEN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

By not paying workers salaries, I'm sure kemi will be able to make her books look good

I pray it comes to fruition. I no dey trust World Bank.

I hope so too

We hope and pray so...nothing is impossible with God...

Recession that started on october 1st 1960 will now be ending this year!

This must be the answer to our prayers!!! 2017 we hail o!

"Nigeria will be great again."

World bank prophecy

.

It is expected. We are on track.

Baba is working... wailers are crying and praying Nigeria fails

Buhari mai wayo

Better

Alright

World bank don talk their own........



Bubu go just dey him office dey laugh!

When would Donald Odimegwu Trump break the Red Monkey out of jail?

I was disappointed when he didnt mention the terrorist's name or ipod in his press conference yesterday even though his presidency was made possible by ipod.

Joke of the year right?

Abia!

They think we have sensible people who are working to improve our lot, manning the economy and government.

Its gonna be a year of pleasant surprises IJN

check my signature

Flyingngel:
I pray it comes to fruition. I no dey trust World Bank.

They wrote that nonsense because of steady increase in foreign reserve while Buhari keep starving potential business men of forex,I don't see any growth until this government find a solution to forex problems

The Bishop that prophesied a tougher 2017 will be disappointed!


Indexes re already indicating a positive year and someone busy somewhere dishing out false prophesy

Good news when it happens

You will be shocked that many people from 'you know where' will not be happy with this news; they want the country to crumble just to prove a stupid point. God bless Nigeria!

Amen is all I can say