IMF: Nigeria’s Economic Growth to Overtake South Africa Next Year
July 25, 201701002

Obinna Chima
The International Monetary Fund (IMF) on Monday predicted that the Nigerian economy would expand by 1.9 per cent in 2018, higher than the 1.2 per cent it estimated for South Africa.

In addition, the multilateral institution projected that Nigeria would exit the biting economic recession this year with a slim economic growth of 0.8 per cent, just as it predicted that South Africa, would also record one per cent growth in its Gross Domestic Product (GDP) this year.

The fund made the predictions in its World Economic Outlook (WEO) for July 2017, titled: ‘A Firming Recovery,’ that was obtained on its website.
The Nigerian economy sank into its worst economic recession in 29 years last year and has seen government pursuing expansionary fiscal policies to reflate the economy.
Similarly, South Africa entered recession for the first time in eight years in 2017; data from Statistics South Africa had shown last month.

But the latest WEO stated that in sub-saharan Africa, the outlook remains challenging.
The report anticipated growth in the continent would rise in 2017 and 2018, but would barely return to positive territory in per capita terms this year for the region as a whole—and would remain negative for about a third of the countries in the region.

“The slight upward revision to 2017 growth relative to the April 2017 WEO forecast reflects a modest upgrading of growth prospects for South Africa, which is experiencing a bumper crop due to better rainfall and an increase in mining output prompted by a moderate rebound in commodity prices.

“However, the outlook for South Africa remains difficult, with elevated political uncertainty and weak consumer and business confidence, and the country’s growth forecast was consequently marked down for 2018,” it added.

It urged Nigeria and other commodity exporters to continue to adjust to lower revenues, while diversifying their sources of growth over time.
“Oil prices have receded, reflecting strong inventory levels in the United States and a pickup in supply. Headline inflation also generally softened as the impact of the commodity price rebound of the second half of 2016 faded, and remains at levels well below central bank targets in most advanced economies.

“Core inflation has remained broadly stable. It has largely been stable in emerging economies as well, with a few, such as Brazil and Russia, witnessing strong declines.”
According to the report, capital flows to emerging economies have been resilient in the first few months of 2017, with a notable pickup in non-resident portfolio inflows.

It noted that while risks around the global growth forecast appeared broadly balanced in the near term, they remained skewed to the downside over the medium term.
“Projected global growth rates for 2017–18, though higher than the 3.2 per cent estimated for 2016, are below pre-crisis averages, especially for most advanced economies and for commodity-exporting emerging and developing economies.”

The report stated: “Among the former, many face excess capacity as well as headwinds to potential growth from aging populations, weak investment, and slowly advancing productivity.
“Reforms to boost potential output are of the essence, and slow aggregate output growth makes it even more important that gains are shared widely across the income distribution,” it stated.
According to the report, financial stability risks needs close monitoring in many emerging economies.

“Short-term risks are broadly balanced, but medium-term risks are still skewed to the downside.
“Lower commodity prices would further exacerbate macroeconomic strains and complicate adjustment needs in many commodity exporters.”

Oga Loco must be smiling by now his bank is seriously on the move.

Market volume with price appreciation today is scary oh! Looking like if you sell in a hurry you might buy at a higher price.

This is where technical's come in handy.

stcool:
http://www.nse.com.ng/Financial_NewsDocs/18949_FIDSON_HEALTHCARE_-_Q2_JUNE_2017_FINANCIAL_STATEMENTS_JULY_2017.pdf

Such quantum leap in both Revenue & PAT.

full bid
#typical

PennyBanks
- time to join d train
- ff d leader

ukay2:



Oga me...i bought at N3.00, SOLD AT 6.40k, bought again at N6.00....am not selling again until @KM 20.....UBA is very liberal with dividend payment and price appreciation...he who has patience will reap the fruit on waiting

Oh.thanks.just got d alert , d idoit just sold it at 10#.

Krisuba:


Oh.thanks.just got d alert , d idoit just sold it at 10#.

what if price reverse tomorrow? Your broker is very efficient as an analog trader.

Somebody just bought 2million units of UBA @N10.15k.....even at KM 20, men in black are ready to buy it...

DeRuggedProf:


You need to add a disclosure that reads like this, for the interest of newbies:

CAUTION: YOU ARE ABOUT TO GRAB A STRAND OF SPIROGYRA.

The Professor himself. The rugged one at that.

ukay2:
Somebody just bought 2million units of UBA @N10.15k.....even at KM 20, men in black are ready to buy it...

Don't expect Km20 so soon, km15 is more like it.

If the current improvement in fundamentals is sustained, km20 is achievable this time next year.

emmanuelewumi:


Don't expect Km20 so soon, km15 is more like it.

If the current improvement in fundamentals is sustained, km20 is achievable this time next year.

My oga emma.....am with you in the short and long term in UBA....

ukay2:


My oga emma.....am with you in the short and long term in UBA....

In the midst of the confusion...FBHN Welcome home! Seems like my perceived fair price is unattainable. Awaiting Q2

Good for today!

charts love Femi.

Discl: Fxuser & BullBearMkt what are you seeing from 5/30/1/4/1/1/1...

The juju continues....

pluto09:


Oga intendy, can you pls expatiate on how to go about this. I'm very much interested.

As a buyer or seller??

stcool:
In the midst of the confusion...FBHN Welcome home! Seems like my perceived fair price is unattainable. Awaiting Q2

Good for today!

Eccl: 9:11-12

Infinitisi:


My Oga @fxuser do you have a day job or you trade full time?

I trade more often than prev years, but left d day job a long while back.

Intendy:



As a buyer or seller??

As a buyer

stcool:
In the midst of the confusion...FBHN Welcome home! Seems like my perceived fair price is unattainable. Awaiting Q2

Good for today!

Weekly is digging borehole!

fxuser:


I trade more often than prev years, but left d day job a long while back.

Why allow someone else to fill your empty check when you have your own pen?

DeRuggedProf:


Weekly is digging borehole!

Price for Tier 1 banks are not favorable for me atm. If FBHN goes lower may be would add to it. Smoke full market now.

stcool:


Price for Tier 1 banks are not favorable for me atm. If FBHN goes lower may be would add to it. Smoke full market now.

No one is ever wrong in the market until his trading account is empty....

DeRuggedProf:


No one is ever wrong in the market until his trading account is empty....

I take them one at a time. But I don't hold more than 5 NSE stocks at any given time. Sometimes just 3 / 4

We will brace up for the faceless cabal today...

Look at their life, from full offer to almost 2M bids on transcorp at the 'Lagoon Cliff'.

stcool:


I take them one at a time. But I don't hold more than 5 NSE stocks at any given time. Sometimes just 3 / 4

What do u currently hold at the moment ?

Tritri:


What do u currently hold at the moment ?

ConOil, Forte, MayBaker, FBHN...

UBA......on full bid....KM20 here we go

ukay2:
UBA......on full bid....KM20 here we go

Caution on junction names please.

DeRuggedProf:


Caution on junction names please.

...that is how they call bears into reality.

DeRuggedProf:



Why allow someone else to fill your empty check when you have your own pen?

Classical as always

TRW messed up..their platform down since yesterday. Moving to another house with immediate effect...

Fbnh, FO, M&B, UBA on my mind.

DangFlour sideways dance is taking too long. Meanwhile, Transcorp investors are the most emotional.They can run when nothing is truly chasing.