Wednesday, October 20, 2021

Make money on FreshReportersMake Money On FreshReporters


telegram SH
Whatsapp 9787748839374893773 1

images 23 1609798193847

HomeNewsGeneral NewsNigeria To Experience Worse Recession In 31 Years – IMF

Nigeria To Experience Worse Recession In 31 Years – IMF

Due to coronavirus pandemic, which has disrupted global supply chains, Nigeria’s economy has been projected to face the worst recession in 30 years, by the the International Monetary Fund, IMF.

Nigeria To Experience Worse Recession In 31 Years – IMF

The IMF noted that Nigeria’s economy will recede by 3% in 2020, stating that this would be the worst recession in 30 years for the West African giant after a negative economic growth of 1.51% in 2016.

The projection was part of IMF’s April 2020 World Economic Outlook report released on Tuesday in Washington DC, United States.

According to IMF Chief Economist and Director of the Research Department, Gita Gopinath, the recession to be experienced would be the worst since the Great Depression between 1929 and 1932 when the advanced economies shrunk by 16%.

It is projected that the Nigerian economy will rebound by 2.4% in 2021.

He said;

For the first time since the Great Depression, both the advanced economies and emerging and developing economies are in a recession,” she said in a briefing that marked the beginning of the April 2020 Spring meetings that are holding virtually.

For 2020, growth in advanced economies is projected at -6%. Emerging markets and developing economies which typically have normal growth levels well above advanced economies are also projected to have negative growth of -1% and -2.2% if you exclude China


SEE HOW TO MAKE MONEY ON THIS PLATFORM>>[http://bit.ly/2PvYHfC]

Donate to support Freshreporters=>https://freshreporters.com/support




DISCLAIMER
For publication of your news content, articles, videos or any other news worthy materials, please send a mail to thefreshrepo [email protected]

For Advert and other info, you can send a WhatsApp Message to +2347050565443


Join thousands of readers to receive daily Latest News:

telegram iconJoin our Telegram Group

facebook iconLike our Facebook Page

whatsapp iconJoin our WhatsApp Group

twitter iconFollow Us on Twitter

facebook iconJoin Our FACEBOOK GROUP

instagram iconFollow Us on Instagram

youtube iconSubscribe to our YouTube Channel


.

Most Viewed news