World Bank Predicts Nigeria would Get Out of Recession this Year

World Bank Predicts Nigeria would Get Out of Recession this Year

The Reccession Crisis that Hit the Nigerian Economy and it been its worst in 29-years might be seening light at the end of th Tunnel in the coming Months as  the World bank released on official statement on Wednesday.

In a statement on Wednesday , the bank said

“Sub-Saharan African growth is expected to pick up modestly to 2.9 per cent in 2017 as the region continues to adjust to lower commodity prices.


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“Growth in South Africa and oil exporters is expected to be weaker, while growth in economies that are not natural-resource intensive should remain robust.

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“Growth in South Africa is expected to edge up to a 1.1 per cent pace this year. Nigeria is forecast to rebound from recession and grow at a 1 per cent pace. Angola is projected to expand at a 1.2 per cent pace.”Commenting on the report, the President, World Bank Group, Jim Yong Kim, stated,

“After years of disappointing global growth, we are encouraged to see stronger economic prospects on the horizon.“Now is the time to take advantage of this

momentum and increase investments in infrastructure and people. This is vital to accelerating the sustainable and inclusive economic growth required to end extreme poverty.”


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