ADVERTISEMENT
  • Africa
  • World
  • Our Shows
    • Entrepreneurship
    • Destination Business
    • 101business TV Show
Business 360 News
  • Home
  • News
  • Markets
    • Stocks
  • Finance
  • Economy
    • Political Economy
    • Energy
    • Maritime
    • Agribusiness
    • Insurance
    • Real Estate
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
  • Sports
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Business Travels
    • Aviation
    • Tourism
    • Hospitality
  • Lifestyle
    • Art
    • Entertainment
    • Fashion
    • Luxury
  • NGOs
  • Business 360 Weekly
No Result
View All Result
  • Home
  • News
  • Markets
    • Stocks
  • Finance
  • Economy
    • Political Economy
    • Energy
    • Maritime
    • Agribusiness
    • Insurance
    • Real Estate
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
  • Sports
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Business Travels
    • Aviation
    • Tourism
    • Hospitality
  • Lifestyle
    • Art
    • Entertainment
    • Fashion
    • Luxury
  • NGOs
  • Business 360 Weekly
No Result
View All Result
Business 360 News
No Result
View All Result
Home Economy

World Bank projects 2.2% GDP growth for Nigeria in 2019

Benjamin Joshua by Benjamin Joshua
January 18, 2019
in Economy, Energy
0
World Bank projects 2.2% GDP growth for Nigeria in 2019

Nigeria’s real GDP growth will expand by 2.2 per cent in 2019, the World Bank has said in its annual Global Economic Prospects published on Wednesday, slightly upgrading the country’s projected growth rate from 2.1 per cent in June 2018.

According to the World Bank, growth in sub-Saharan Africa would accelerate to 3.4 per cent in 2019, due to improved investment in large economies together with continued robust growth in non-resource intensive countries.

“Per capita growth is forecast to remain well below the long-term average in many countries, yielding little progress in poverty reduction.

“Growth in Nigeria is expected to rise to 2.2 per cent in 2019, assuming that oil production will recover and a slow improvement in private demand will constrain growth in the non-oil industrial sector.

“Angola is forecast to grow 2.9 per cent in 2019 as the oil sector recovers as new oil fields come on stream and as reforms bolster the business environment.

“South Africa is projected to accelerate modestly to a 1.3 per cent pace, amid constraints on domestic demand and limited government spending,” the bank said.

On the risk to the region’s growth, the World Bank stated that escalated trade tensions between the United States and China could impact negatively on the region.

“Faster than expected normalization of advanced economy monetary policy could result in sharp reductions in capital inflows, higher financing costs and abrupt exchange-rate depreciation.

“Increased reliance on foreign currency borrowing has heightened refinancing and interest rate risk in debtor countries,” the noted.

It said domestic risks in particular remained elevated, that political uncertainty and a concurrent weakening of economic reforms could continue to weigh on the economic outlook in many countries.

“In countries like Mozambique, Nigeria, and South Africa holding elections in 2019, domestic political considerations could undermine the commitments needed to rein in fiscal deficits, especially where public debt levels are high and rising.

The Bank downgraded global economic growth from 3 per cent in 2018 to 2.9 per cent in 2019 due to trade tensions, rising borrowing costs and persistent policy uncertainties.

Previous Post

IMF: Nigeria’s economy to grow by 3.8% in 2019

Next Post

Expert supports privatisation of NNPC

Benjamin Joshua

Benjamin Joshua

Next Post
NPDC seeks N967bn to develop 416 million barrels of oil

Expert supports privatisation of NNPC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
NCAC inaugurates Creative Industry Sub-Committees

NCAC inaugurates Creative Industry Sub-Committees

September 20, 2020
#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

October 21, 2020
COVID-19: Churches comply with strict measures as worship centres reopen in Lagos

COVID-19: Churches comply with strict measures as worship centres reopen in Lagos

August 10, 2020
COVID-19: Maize Farmers cut down production by 30%

COVID-19: Maize Farmers cut down production by 30%

July 15, 2020
‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

25
Goldlink’s restructures board

Goldlink’s restructures board

10
Airtel Africa Plc gets admitted to the NSE Main Board

Airtel Africa Plc gets admitted to the NSE Main Board

6
Stallion Tank Farm resumes operations

Stallion Tank Farm resumes operations

3
2023 Eonomy outlook: Financial Experts at Parthian Group offer recipe for profit taking in equities investment

2023 Eonomy outlook: Financial Experts at Parthian Group offer recipe for profit taking in equities investment

February 9, 2023
Deputy British High Commissioner Engages Capital Market Stakeholders

NGX Appoints Advisory Panel on Digital Technology Products

February 7, 2023
FMDQ Depository Limited Becomes a Member of the International Securities Services Association

FMDQ Depository Limited Becomes a Member of the International Securities Services Association

February 7, 2023
Ethiopian Airlines assures Air Travelers of planned resumption of flight to Kano and Enugu

Ethiopian Airlines Inaugurates a second Aviation Academy Campus in Hawassa

February 7, 2023
Business 360 News

Business 360 News is a Business and Financial News Platform with an SMEs drive. Published by 360 Network Limited, and created with the aim of disseminating unbiased business stories to readers within and outside Nigeria, providing in-depth analysis of our stories from a critical perspective against the backdrop of realities, actualities, objectivity and balance.

Follow Us

Browse by Category

  • Africa
  • Agribusiness
  • AI
  • Art
  • Arts
  • Aviation
  • Blockchain
  • Business 360 Weekly
  • Business Travels
  • Capital Market
  • Corporate
  • Destination Business
  • Economy
  • Education
  • Electric Vehicles
  • Energy
  • Entertainment
  • Entertainment
  • Entrepreneurship
  • Fashion
  • Fashion
  • Finance
  • Health
  • Hospitality
  • ICT
  • Insurance
  • IoT
  • Lifestyle
  • Luxury
  • Maritime
  • Meetings
  • News
  • NGOs
  • Political Economy
  • Real Estate
  • SMEs
  • Society
  • Solar Energy
  • Sports
  • Start-Ups
  • Stocks
  • Success Stories
  • Tech
  • Tourism
  • Transportation
  • Uncategorized
  • World

Recent News

2023 Eonomy outlook: Financial Experts at Parthian Group offer recipe for profit taking in equities investment

2023 Eonomy outlook: Financial Experts at Parthian Group offer recipe for profit taking in equities investment

February 9, 2023
Deputy British High Commissioner Engages Capital Market Stakeholders

NGX Appoints Advisory Panel on Digital Technology Products

February 7, 2023
  • Africa
  • World
  • Our Shows

© 2022 Business 360 News - Business, Finance And SMEs News | Design by Manifest!

No Result
View All Result
  • Home
  • News
  • Markets
    • Stocks
  • Finance
  • Economy
    • Political Economy
    • Energy
    • Maritime
    • Agribusiness
    • Insurance
    • Real Estate
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
  • Sports
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Business Travels
    • Aviation
    • Tourism
    • Hospitality
  • Lifestyle
    • Art
    • Entertainment
    • Fashion
    • Luxury
  • NGOs
  • Business 360 Weekly

© 2022 Business 360 News - Business, Finance And SMEs News | Design by Manifest!