The International Monetary Fund (IMF) has cut its forecast for Nigeria’s economic growth in 2024 to 3.1 per cent. The downgrade is contained in a newly released report ‘in the July 2024 World Economic Outlook’ published Tuesday. The IMF cited a weaker growth recorded in the first quarter of the year, Q1’24 as reason for the new forecast. The downgrade represents 0.2 percentage points below the earlier forecast of 3.3 per cent. The downgrade followed weaker-than-expected Gross Domestic Product, GDP, and growth recorded by the country in Q1’23. The IMF…
Read MoreIMF Downgrades Nigeria’s Economic Growth Forecast To 3.1%
