By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Times ReportersTimes Reporters
  • Home
  • News
  • Politics
  • Business
    • Economy
  • Sports
  • Entertainment
  • About Us
  • Bookmarks
Search
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Reading: IMF Upgrades Nigeria’s 2023 Economic Growth Projection To 3.2%
Share
Sign In
Notification Show More
Latest News
Make public, FCT Area Councils’ funding, lawyers charge Wike
Judiciary Legal/Courts Metro News
Institutional Resilience Key to Africa’s Future – Cardoso
Business Economy News
NATCOM-UNESCO, security agencies advocate peace education
Civil Society Organisations News
Former NNPCL CFO Dismisses Reports of EFCC Detention on Fraud Charges
Business News Oil & Gas
Abia Assembly passes 37 bills in 2 years
Legal/Courts Metro News Politics
Aa
Times ReportersTimes Reporters
Aa
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Search
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Have an existing account? Sign In
Follow US
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Times Reporters > Business > Economy > IMF Upgrades Nigeria’s 2023 Economic Growth Projection To 3.2%
Economy

IMF Upgrades Nigeria’s 2023 Economic Growth Projection To 3.2%

Publisher
By Publisher Published February 2, 2023
Share
2 Min Read
SHARE
Washington DC, USA – March 9, 2018: IMF entrance with sign of International Monetary Fund, logo, headquarters 2, two, HQ2 with people walking on sidewalk, street

The International Monetary Fund (IMF) has raised Nigeria’s economic growth projection to 3.2 per cent for this year.

This is 0.1 percentage point higher than the 3.0 per cent earlier projected in its October 2022 report.

The IMF disclosed this in its January 2023 world economic outlook (WEO), saying the slight upward review was due to measures to address insecurity issues in the oil sector.

- Advertisement -
Ad image

The report titled ‘Inflation peaking amid low growth’ showed Nigeria’s growth rate would slow to 2.9 per cent in 2024.

The organisation said growth in sub-Saharan Africa is expected to remain moderate at 3.8 per cent in 2023 amid prolonged fallout from the COVID-19 pandemic, although with a modest upward revision since October, before picking up to 4.1 percent in 2024.

Unlike sub-Saharan Africa, the IMF said growth in the Middle East and Central Asia would decline from 5.3 percent in 2022 to 3.2 percent in 2023.

According to the organisation, this is attributable to a “steeper-than-expected growth slowdown in Saudi Arabia, from 8.7 per cent (which was stronger than expected by 1.1 percentage points) to 2.6 percent in 2023, with a negative revision of 1.1 percentage points”.

“The downgrade for 2023 reflects mainly lower oil production in line with an agreement through OPEC+ (Organization of the Petroleum Exporting Countries, including Russia and other non-OPEC oil exporters), while non-oil growth is expected to remain robust,” the IMF explained.

Like this:

Like Loading...

Related

You Might Also Like

Institutional Resilience Key to Africa’s Future – Cardoso

Presidency Denies Allegations That President Tinubu Supported June 12, 1993 Election Annulment

FAAN Boss Tasks Stakeholders On Business Development, Staff Welfare, Training 

CBN Affirms Banking Sector Stability, Releases Routine Transitional Guidelines for Select Banks

Season Rush: FIRS Directs Opening Of Tax Offices On Weekends

TAGGED: Economic Outlook, IMF, Nigeria

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Publisher February 2, 2023
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
Share
Previous Article 2023 Planting: IAR Boss Recommends May, June To Farmers
Next Article Thick Dust Haze To Envelope Katsina, Kano, Yobe, Others, For 72 Hours, NiMet Warns
Leave a comment Leave a comment

Leave a Reply Cancel reply

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

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe
Telegram Follow

– Member of –

- Advertisement -
Ad imageAd image

Latest News

Make public, FCT Area Councils’ funding, lawyers charge Wike
Judiciary Legal/Courts Metro News June 26, 2025
Institutional Resilience Key to Africa’s Future – Cardoso
Business Economy News June 26, 2025
NATCOM-UNESCO, security agencies advocate peace education
Civil Society Organisations News June 25, 2025
Former NNPCL CFO Dismisses Reports of EFCC Detention on Fraud Charges
Business News Oil & Gas June 25, 2025

You Might also Like

BusinessEconomyNews

Institutional Resilience Key to Africa’s Future – Cardoso

June 26, 2025
NewsPolitics

Presidency Denies Allegations That President Tinubu Supported June 12, 1993 Election Annulment

June 22, 2025
AviationBusinessInfrastructureNews

FAAN Boss Tasks Stakeholders On Business Development, Staff Welfare, Training 

June 18, 2025
BusinessEconomyNews

CBN Affirms Banking Sector Stability, Releases Routine Transitional Guidelines for Select Banks

June 18, 2025
Times ReportersTimes Reporters
Follow US

© 2024 Times Reporters | Deigned by AuspiceWeb Graphics. All Rights Reserved.

  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
Join Us!

Subscribe to our newsletter and never miss our latest news!

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?
%d