Tag: Growth Forecast
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S&P Cuts Nigeria’s 2020 GDP Growth Forecast to 1.5%
The Gross Domestic Product (GDP) growth forecast for Nigeria in 2020 has been revised downward to 1.5 percent from 2.2 percent by Standard and Poors (S&P). In a press statement issued on Thursday, the rating agency also announced lowering its long-term foreign and local currency sovereign credit ratings on Nigeria to ‘B-’ from ‘B’. In…
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World Bank cuts Nigeria, South Africa, others’ growth forecast to 2.7%
The World Bank has cut its economic growth forecast for Nigeria and other sub-Saharan Africa countries for this year to 2.7 per cent from an earlier forecast of 3.1 per cent. The bank said on Wednesday that the cut was mainly because of slower-than-expected growth in the continent’s bigger economies, according to Reuters. It said…