International Monetary Fund, IMF, has said Nigeria and South Africa will continue to draw back the economic growth of the rest of Sub-Saharan Africa if steps are not taken to address the policy uncertainties holding back growth in the two countries.In its latest “Regional Economic Outlook” report launched, yesterday, in Abuja, IMF said although economic recovery in most parts of Sub-Saharan Africa is expected to pick up from 3 per cent in 2018 to 3.
In Nigeria, the IMF said recovering oil output will drive growth rate from about 1.9 per cent in 2018 to about 2.1 per cent in 2019, with near-term outlook expected to remain subdued due to lower crude oil prices. Central to resolving these challenges is building physical space, enhancing resilience to shocks and fostering an environment conducive for sustained high and inclusive growth.
The report also called for the creation of an environment that fosters a dynamic private sector, by addressing the constraints to business cooperation and deeper trade integration in the region through the African Continental Free Trade Area . On what the CBN has been doing to create a more stable economic environment, the deputy governor said since July 2016 when the economy was coming out of recession, the CBN has been embarking on tight monetary policy.
vanguardngr A proof that Nigeria economy remains the worst in the world. I wish SAfrica well, I wish Nigeria divided
vanguardngr Leave us alone. Is it compulsory we borrow money from you guys Haba
vanguardngr The problem of Africa is now nigeria. Mention any negative phenomenon, nigeria must be among the first three countries affected. This is a country that used to be the pride of Africa, the strongest economy in Africa....pity
vanguardngr IMF mind your business, the damage you have done to Nigeria and Africa is enough.
vanguardngr When you people continue to support incompetent leaders in Nigeria, what do you expect
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