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.

More news: Do you know what to have ready before tax season?

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
Antonio Brown said he’d ‘f*ck Logan Paul up’
He then wound up on the Patriots, but was cut after just one game amid allegations of sexual assault and rape . Antonio Brown wants to leave the Pittsburgh Steelers after falling out with the team.

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
Mark-Paul Gosselaar to star in Saved By The Bell reboot
Tiffani Thiessen , who played Zack's girlfriend and later wife Kelly Kapowski, is also in talks to reprise her role on the reboot. Mark Paul Gosselaar is set to appear in three episodes, while it is unclear how many the rest of the cast will be involved in.

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
Pelosi Announces Plan to Bring Impeachment to Senate
Pressure had been growing on Pelosi, including from other Democrats, to transmit the articles in the third week after impeachment. McConnell rejected the Democratic requests, saying that he thought the 1999 Clinton trial model should govern the current trial.

10 January 2020
United States military had advance warning of Iranian ballistic missile attack, officials say
President Hassan Rouhani told the USA on Wednesday that "you cut the hand of Soleimani but we will cut your foot from the region". Army General David Petraeus wrote on LinkedIn that it is "impossible to overstate the significance" of Soleimani's death.

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
Next Budget to take place in March
Prime Minister Boris Johnson has now made clear that the United Kingdom will be leaving the European Union on 31 January with no further delays.

10 January 2020
Neymar says Sergio Ramos is the best defender he has ever faced
Even if it sounds like a wasted year, I learned a lot― gained experience". I am taking the positive side of it so that 2020 can be better .