IMF Raises Forecast For Nigeria’s Growth

[ChannelsTV]

Nigeria's economy will expand by 7 percent in 2014, down from an estimated 7.2 percent this year. According to the IMF's latest world economic output report, released on Tuesday, the rebound from the floods and implementation of the power sector reform will boost growth. Growth in South Africa is predicted to accelerate to 3.3 per cent from 2.8 per cent this year as mining production rebounds. Meanwhile the IMF believes that sub-Saharan Africa's economy will expand faster than previously forecast next year as the global economic recovery strengthens. The region's economy will grow 6.1 per cent in 2014, more than the previous estimate of 5.7 per cent and the 5.6 per cent projected growth for this year. On Tuesday, the World Bank predicted that sub-Saharan Africa's economy could accelerate to more than 5 per cent over the next three years.

Via: ChannelsTV