Less than two weeks after the World Bank projected Nigeria’s Gross Domestic Product (GDP) to grow by 2.5 per cent in 2018, the International Monetary Fund (IMF) on Monday projected a lower growth outlook for the country.

According to the Fund’s World Economic Outlook (WEO) for 2018 titled: “Brighter Prospects, Optimistic Markets, Challenges Ahead,” Nigeria’s GDP would grow at 2.1 per cent in 2018. It also projected a lower economic growth of 1.9 per cent for the country in 2019.

The IMF explained: “The growth pickup in Sub-Saharan Africa (from 2.7 percent in 2017 to 3.3 percent in 2018 and 3.5 percent in 2019) is broadly as anticipated in the fall, with a modest upgrade to the growth forecast for Nigeria but more subdued growth prospects in South Africa, where growth is now expected to remain below 1 percent in 2018–19, as increased political uncertainty weighs on confidence and investment.”

Also, the IMF stated that fiscal policy was generally constrained by the need to gradually rebuild buffers, especially in commodity-dependent emerging market and developing economies. With the recent respite provided by the cyclical rebound in commodity prices, it urged policymakers to guard against the temptation to defer reforms and budgetary adjustments for later.

“The policy challenges for low-income countries are particularly complex, as they involve multiple, sometimes conflicting goals. These include supporting near-term activity; diversifying their economies and lifting potential output to maintain progress toward their Sustainable Development Goals; building buffers to enhance resilience, especially in commodity-dependent economies grappling with a subdued outlook,” it stated.

The IMF also revised its forecast for the world economy’s growth in both 2018 and 2019 to 3.9 per cent.

For both years, that was 0.2 percentage points higher than its last October’s forecast, and 0.2 percentage points higher than its current estimate of last year’s global growth.

According to the Economic Counsellor and Research Department Director, at the IMF,

Maurice Obstfeld, political leaders and policymakers must stay mindful that the present economic momentum reflects a confluence of factors that is unlikely to last for long.

“The global financial crisis may seem firmly behind us, but without prompt action to address structural growth impediments, enhance the inclusiveness of growth, and build policy buffers and resilience, the next downturn will come sooner and be harder to fight.

“Every government should be asking itself three questions today. First, how can we raise economic efficiency and output levels over the longer term? Second, how can we support resilience and inclusiveness while reducing the likelihood that the current upswing ends in an abrupt slowdown or even a new crisis?

“Third, how can we be sure to have the policy tools we will need to counter the next downturn?” Obstfeld added.

http://investorsking.com/imf-forecasts-2-1-growth-nigeria-2018/

Bad news for wailers whose anthem is recession. their hero is a PhD shoeless kainkain man from Otuoke without academic publication, their lord is unemployable hunchback halfcast and their mentir is every looter.

Don't quote me Please ease, just look for nearby transformer if rat poison is not available and end your life.

Kudos sir PMB.

Wow! Good to hear.




GET RID OF STRETCH MARKS, CHECK MY SIGNATURE!

While 16m remain unemployed

OK

Prediction, not even a reality

hmmm

Freetech:
Bad news for wailers whose anthem is recession. their hero is a PhD shoeless kainkain man from Otuoke without academic publication, their lord is unemployable hunchback halfcast and their mentir is every looter.

Don't quote me Please ease, just look for nearby transformer if rat poison is not available and end your life.

Look at this dude. What business does this post has with wailers. Let's sit down and analyze the projections. Will they ever work out? This will never have an effect on the lowest class. It's pure bullshit. As long as we are still earning that useless minimum wage when inflation is not laughing with us, we can't get ourselves balanced.

I really wish this country has all of its useless and corrupt leaders killed and buried together. They are rotten, wicked, heartless and has no clue. All of 'em. From the past ruling leaders to the present. They got no clue. Sometimes, i just wonder if they don't look at other countries and their policies. How it positively affects the masses. This ones are just potbellied, clueless sets of retards.

ok

Freetech:
Bad news for wailers whose anthem is recession. their hero is a PhD shoeless kainkain man from Otuoke without academic publication, their lord is unemployable hunchback halfcast and their mentir is every looter.

Don't quote me Please ease, just look for nearby transformer if rat poison is not available and end your life.

congratulations zombie

I'm sure you're among the 16 millions who lost their jobs last year

Slow and steady we are moving forward and did the job

NaijaMutant:


congratulations zombie

I'm sure you're among the 16 millions who lost their jobs last year

He never had any Job in the first place.

By the way, all this forecast be like Nigeria Budget...never implimented!

Freetech:
Bad news for wailers whose anthem is recession. their hero is a PhD shoeless kainkain man from Otuoke without academic publication, their lord is unemployable hunchback halfcast and their mentir is every looter.

Don't quote me Please ease, just look for nearby transformer if rat poison is not available and end your life.

This is epic idiocy. No economy is permanently in recession, the question is whether you can generate enough growth to improve living standards. Given population growth of circa 3%, Nigeria needs more than 3% GDP growth to improve living standards.

In reality, given that the benefits of growth are not evenly distributed and tends to accrue to the rich, you need close to 10% GDP growth to make any significant impact in poverty alleviation. People like you who celebrate mediocrity are abject treacherous oafs.

IMF ticket go cut, you can't make a prediction on a country like nigeria.