IMF Lowers Nigeria’s 2019 Growth Projection to 2%

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By Obinna Chima

The International Monetary Fund (IMF) has cut Nigeria’s Gross Domestic Product (GDP) projection for 2019 to two per cent, from the 2.3 per cent it had predicted for the country previously.

The fund stated this in its World Economic Outlook (WEO) update titled, “A Weakening Global Expansion,” released Monday.

It noted that emerging market and developing economies had been tested by difficult external conditions over the past few months amid trade tensions, rising US interest rates, dollar appreciation, capital outflows, and volatile oil prices.

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