Nigeria’s economy to grow by 2.1 percent in 2020

Nigeria’s economy to grow by 2.1 percent in 2020”

The World Bank on Wednesday lowered its projection for India's economic growth from 6% to 5% in 2019-'20 fiscal year, but said it would recover to 5.8% in the following year, PTI reported.

Meanwhile, China's growth rate is projected to decelerate to 5.9 percent in 2020, a 0.2 percentage-point reduction from the June forecast, as the world's second-largest economy deals with the fallout from USA tariffs, the World Bank said.

That figure is below the 3.6 per cent growth estimate for Bulgaria's economic growth in 2019, and also below the 3.4 per cent 2020 growth forecast for World Bank's Central Europe sub-region, which includes Bulgaria.

"This modest increase in global growth marks the end of the slowdown that started in 2018 and took a heavy toll on global activity, trade, and investment, especially past year", said Ayhan Kose, the World Bank's lead economic forecaster.

For 2018, Malaysia's GDP expanded 4.7% y-o-y, Bank Negara said.

Canisius Bihira, an economist based in Kigali, asserts the 8.1 forecasted growth is within an ideal range given the trend at which the domestic economy has been growing at.

India's growth rate was 6.8 per cent in 2018-19.

Much of the emerging market improvement is driven by eight countries, the World Bank said.

The bank's revised outlook represents a downgrade from its last forecast in June when it had expected growth to be 0.2 percentage-points higher this year.

For the United States, the World Bank sees gross domestic product growth slowing from 2.3% in 2019 to 1.8% in 2020 and then slowing further to 1.7% in both 2021 and 2022.

Why it matters: Per Axios' Dion Rabouin, this report shows the economic situation is worse than the World Bank had estimated in October, when it cut its projections for a third time.

In Cote d'Ivoire, the economy is expected to grow at 7 per cent, Ghana's economy is forecast to grow at 6.8 per cent followed Benin at 6.7 per cent, Uganda at 6.5 per cent, and Ethiopia at 6.3 per cent.

China's growth is projected to ease to 5.9 percent in 2020, from 6.1 percent in 2019, as the world's second-largest economy deals with fallout from USA tariffs.

It explained that this rebound was not broad-based, instead, it assumed improved performance of a small group of large economies, some of which were emerging from a period of substantial weakness.

Trump's get-tough trade policies aimed at lowering America's huge trade deficits as a way to boost US manufacturing jobs have resulted in an increase in protectionist barriers in the United States and many other nations.

Growth in Sub-Saharan Africa is expected to peak at 2.9 per cent in 2020, the bank further projected.

In Bangladesh, growth is expected to ease to 7.2 per cent in 2019-20, which ends on June 30, and edge up to 7.3 per cent the following fiscal year.

Among other threats to growth, the World Bank cited weak productivity gains in many countries and a sharp rise in global debt burdens.

Like this



11 January 2020
Gwen Stefani and Blake Shelton to perform together at 2020 Grammys
The 62nd Annual Grammy Awards , hosted by Alicia Keys , take place January 26 and will air live on CBS at 8 p.m. Four-time GRAMMY-winning band Aerosmith first performed on the 33 GRAMMY Awards stage in 1991.

11 January 2020
Colorado man's death not caused by vaping illness — CDC
Since August 2019, 65 confirmed and probable vaping-related lung injury cases have been reported in MI , including this death. MDHHS recommends people not use THC vaping products, particularly from informal sources like friends or online sellers.

11 January 2020
15 martyred, several injured as blast hits mosque in Quetta
Mohammad Waseem, a doctor at Quetta's Sandeman hospital, confirmed that 10 dead bodies and 16 injured people had arrived there. Balochistan Chief Minister Jam Kamal Khan said those who carried out the attack have no religion or tribal affiliation.

11 January 2020
Rush Drummer Neil Peart Dead at 67 from Brain Cancer
Rush finished their final tour in 2015, after which Neil wanted to spend more time with his family. He had been battling the awful disease for three years.

10 January 2020
Fans Are Concerned With Adeles New Look As She Seems Almost Unrecognisable
Styles came to them shortly thereafter and the group reportedly talked for about 15 minutes. We're also excited to see what other new developments are in store for her this coming year.

10 January 2020
Confirmed team news and Carabao Cup semi-final updates
He snapped his Achilles when he was playing really well in the Championship and he has had to be patient and work his way back. He was a threat when he came on tonight and I'm delighted for him.

10 January 2020
Jurgen Klopp and Trent Alexander-Arnold win monthly awards for December
The only time in a 20-year career I've been numb, like my body's felt numb". Even tougher than what probably people think it was.

10 January 2020
"Lizzie McGuire" Creator Leaves New Disney+ Revival
It was produced by Stan Rogow Productions and Disney Channel Original Productions, and distributed by Buena Vista Television. There's been a big change behind the scenes of the Lizzie McGuire revival.

10 January 2020
Girl hit by foul ball at Astros game has permanent brain injury
Mithoff said doctors have described the effects of the injury to her central nervous system as similar to those of a stroke. They are obviously anxious , but she is fortunate to have a family that is doing relatively well, considering everything.

10 January 2020
Tom Steyer qualifies for Democratic debate after surge in early voting states
He has instead been focusing his attention on the more delegate-rich states that will vote on Super Tuesday on March 3. Steyer has been spending millions of dollars in early states to boost his chances.