NEWS

FG Refutes IMF’s Forecast Of A Shrink In The Economy

Published

7 years ago

July 22, 2016

The minister of budget and national planning Udo Udoma, after the National Economic Council (NEC) meeting in Abuja on Thursday disclosed that the Nigerian economy will grow by 3.3 to 3.5 percent by the end of 2016, defying the International Monetary Fund (IMF) forecast that the economy will shrink by 1.8 percent in 2016. This was disclosed barely 48hrs after the IMF made its forecast.

Speaking to journalists after the meeting, The minister acknowledged in agreement with the minister of finance Kemi Adeosun that Nigeria is currently in a recession, while awaiting gross domestic product details from the National Bureau of Statistics.

He said the economic council and the federal government as a whole were working zealously to address the state of the Nigerian economy, which is expected to post a negative second quarter GDP.

The meeting was chaired by Vice President, Yemi Osinbajo.

Source:www.thecable.ng

Photo Credit: newswirengr.com

Related Topics:International Monetary Fund (IMF)Kemi Adeosun National Economic Council (NEC)Udo Udoma Yemi Osinbajo

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A post shared by Charles Okpaleke (@charlesofplay)

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