World Bank Cuts  Nigeria , Others’ Growth Forecast to 2.7%


Enterprise Television – World Bank Cuts  Nigeria , Others’ Growth Forecast to 2.7%

The World Bank has cut its economic growth forecast for Nigeria and other sub-Saharan Africa countries for this year to 2.7 per cent from an earlier forecast of 3.1 per cent.

According to bank, the cut was mainly because of slower-than-expected growth in the continent’s bigger economies.

The world bank said the slower pace of the recovery in sub-Saharan Africa was explained by the sluggish expansion in the region’s three largest economies − Nigeria, Angola and South Africa.

The World Bank’s Chief Economist for Africa, Albert Zeufack, urged governments in the region to stop wasting money and instead, boost productivity to support the region’s economic recovery.

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