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LequteMan
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Global audit firm, Pricewaterhousecooper in it's latest report has predicted a growth rate of 4% for the Nigerian economy in 2016.
“Our economists have developed three economic scenarios to help public and private sector organisations prepare for an uncertain environment in 2016. In these scenarios, we explored two types of shocks: an oil price shock and a political shock.
“We expect that even under a benign economic scenario, the Nigerian economy will struggle to realise any growth much higher than 4.0 per cent.
“Nigeria’s economy has tended to suffer following an oil price crash, although its resilience has improved in more recent times. Getting the policy response right matters as falling economic growth imposes a real ‘human’ cost on the population,” PWC said in its recent 2015/2016 World Economic Outlook.
The International Monetary Fund (IMF) recently cut Nigeria’s GDP growth forecast for 2016, to 4.0 per cent. The latest growth forecast by the fund is 2.25 percentage points lower than its last year’s projection for Nigeria.
Nigeria is currently battling a dwindling revenue stemmed from the global oil crash and a weak currency.
“Our economists have developed three economic scenarios to help public and private sector organisations prepare for an uncertain environment in 2016. In these scenarios, we explored two types of shocks: an oil price shock and a political shock.
“We expect that even under a benign economic scenario, the Nigerian economy will struggle to realise any growth much higher than 4.0 per cent.
“Nigeria’s economy has tended to suffer following an oil price crash, although its resilience has improved in more recent times. Getting the policy response right matters as falling economic growth imposes a real ‘human’ cost on the population,” PWC said in its recent 2015/2016 World Economic Outlook.
The International Monetary Fund (IMF) recently cut Nigeria’s GDP growth forecast for 2016, to 4.0 per cent. The latest growth forecast by the fund is 2.25 percentage points lower than its last year’s projection for Nigeria.
Nigeria is currently battling a dwindling revenue stemmed from the global oil crash and a weak currency.
