The International Monetary Fund on Tuesday forecast 2.6 percent growth in sub-Saharan Africa this year, aided by a modest recovery in large economies South Africa, Nigeria and Angola.

“Growth is projected to rise to 2.6 percent in 2017 and 3.5 percent in 2018, largely driven by specific factors in the largest economies, which faced challenging macroeconomic conditions in 2016,” the IMF said its latest World Economic Outlook report.

A slump in commodity price in 2016 and devastating drought had affected growth in several countries in the region, resulting in 1.4 percent growth of gross domestic product (GDP).

Nigeria, the continent’s most populous nation and a leading oil producer, was expected to return to growth in 2017 after a challenging 2016 characterised by recession, a dip in oil prices and energy shortages.

“Output in Nigeria is projected to grow by 0.8 percent in 2017 as a result of a recovery in oil production,” said the report, also citing sustained growth in the agricultural sector.

South Africa, which was hit by slow growth in 2016 was expected to register a slight improvement of 0.8 percent, up from 0.3 percent in 2016, as the impact of devastating drought was beginning to recede and electricity capacity improved.

The continent’s most advanced economy is currently reeling from a recent downgrade to “junk” status by two credit ratings agencies, Standard & Poor’s and Fitch, something which could have an adverse impact on the already anaemic economy.

Another regional black gold producer, Angola, which experienced zero growth in 2016, was expected to show improvement this year, thanks to the effects of economic diversification.

Although there were signs of recovery in the region, the international lender warned that the outlook remained subdued.

“Many of the largest non-resource intensive countries will find it increasingly hard to sustain growth through higher public capital spending, as they have done in the past, in the face of rising public debt and a slowing credit cycle.”

It said output growth was expected “only moderately” to exceed population growth over the forecast horizon.

Double digit inflation was forecast in several countries, including Nigeria, Angola and Ghana, following a sharp depreciation of their respective currencies in recent months.

Tanzania, Kenya, Ivory Coast and Senegal are forecast to lift GDP by between 5-7 percent in 2017. Ethiopia is expected to grow by 7.5 percent.

http://investorsking.com/nigeria-to-grow-by-0-8-in-2017-imf/

NERGP projects 2.19 percent growth rate in 2017.

IMF forecast 0.8 percent.

Considering the fact that we would still be in recession until at least second quarter. A 0.8 percent is more like it.

To
To
To do tbis
To do that

Since the days of Obi is a boy to Obi was a Boy

But APC regime are still on into to

Buhari; the government of "will" and "to" whereas the scammer ain't doing Nada

Hence Buhari is in charge this is not a news.

We are changing for the better. PDD and liepods should cry


Buhari where ever u are I am saying good morning to u.
You shall live long Buhari

the BMC won't like this after they have been spending so much effort trying to tell us that Nigeria is out of recession according to their so called world economics.

Okay, if you talk so. Though, we would like to be feeling the growth not the one on paper

Truth234:
NERGP projects 2.19 percent growth rate in 2017.

IMF forecast 0.8 percent.

Considering the fact that we would still be in recession until at least second quarter. A 0.8 percent is more like it.

only you....chop thank you...chop very much..wehdone sir....gods are washing you

Truth234:
The International Monetary Fund on Tuesday forecast 2.6 percent growth in sub-Saharan Africa this year, aided by a modest recovery in large economies South Africa, Nigeria and Angola.

“Growth is projected to rise to 2.6 percent in 2017 and 3.5 percent in 2018, largely driven by specific factors in the largest economies, which faced challenging macroeconomic conditions in 2016,” the IMF said its latest World Economic Outlook report.

Thanks for sharing.

How do you break all this down for the layman to understand?

bn

ninetiethcrown7:
just 0.8 percent, china that had growth of over 6 percent for almost a ten year stretch, under jonathan we had a 7 percent growth rate as the fastest groing nation in africa for a year, hope we ever see that again. sha .8 percent we shall manage way better than being in recession

go to China

-

Braden6:
I'm amazed at your Naivety. very saddening how foolish you are . the clear fact is that Nigeria will never be a developed nation until you implement my advice .

Please what was your advice again?

lies

IpobExposed:
Hence Buhari is in charge this is not a news.

We are changing for the better. PDD and liepods should cry


Buhari where ever u are I am saying good morning to u.
You shall live long Buhari

after all the insult n generational curses you received for spewing trash on a thread on sunday one would think you'll have sense by now



but no


must you make everything a pdp vs buhari ish



more so those who see the bigger picture knows IMF really doesn't have any good wishes towards Nigeria



Nigeria n IMF relationship


is like the afonjas- fulani relationship



guess which is holding on to false hopes

They are tired of publishing bad news about Nigeria.

alignacademy:


Thanks for sharing.

How do you break all this down for the layman to understand?

Economic recovery in Africa giants due to the surge in global commodity prices is expected to aid growth across Sub-Saharan Africa this year and in 2018.

IMF figure is realistic

The 'change' is real

Paper growth abi?...keep deceiving ur d.umb selves!

abouzaid:
the BMC won't like this after they have been spending so much effort trying to tell us that Nigeria is out of recession according to their so called world economics.

Are u ok ??

just 0.8 percent, china that had growth of over 6 percent for almost a ten year stretch, under jonathan we had a 7 percent growth rate as the fastest groing nation in africa for a year, hope we ever see that again. sha .8 percent we shall manage way better than being in recession

ninetiethcrown7:
just 0.8 percent, china that had growth of over 6 percent for almost a ten year stretch, under jonathan we had a 7 percent growth rate as the fastest groing nation in africa for a year, hope we ever see that again. sha .8 percent we shall manage way better than being in recession

Zombie! you must be a Biafra

tollyboy5:

Zombie! you must be a Biafra

no im not, im just being honest.

overhypedsteve:
bn go to China

no money for visa

will you help me out

to grow on paper

Not bad tho