Global economy to grow 5.6% in 2021, World Bank forecasts

Global economy to grow 5.6% in 2021

Global economy to grow 5.6% in 2021, World Bank forecasts   Says Nigeria GDP rise by 1.8%   The global economy is expected to grow at 5.6 per cent in 2021, although many emerging market and developing economies continue to struggle with the COVID-19 pandemic and its aftermath. The World Bank said this in its June Global Economic Prospects released on Tuesday in Washington D.C., adding that the expected growth was based largely on strong rebounds from a few major economies. The 5.6 per cent expected growth, the fastest post-recession…

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IMF downgrades Nigeria’s economic outlook, projects 4.3% contraction in 2020

IMF Board concludes 2021 surveillance review

The International Monetary Fund (IMF) has projected that Nigeria’s economy will contract by 4.3 per cent in 2020. It disclosed this in its World Economic Outlook report for October 2020 which was released on Tuesday. The IMF had earlier in April predicted a 3.4 per cent contraction of the economy. It also predicted 5.4 per cent contraction in June. It however projected that the economy would recover by 1.7 per cent in 2021. According to the report, global growth was projected to contract by 4.4 per cent in 2020, a…

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