The International Monetary Fund has revised upward its growth forecast for the Nigerian economy in 2021 from one per cent it had predicted in January to 2.5 per cent.
“The pandemic continues to exact a large toll on Sub-Saharan Africa . Following the largest contraction ever for the region , growth is expected to rebound to 3.4 per cent in 2021, significantly lower than the trend anticipated before the pandemic. Tourism-reliant economies will likely be the most affected,” the IMF said.
According to the Washington-based institution, global prospects remain uncertain a year into the pandemic.
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