{"id":90662,"date":"2022-01-13T06:55:13","date_gmt":"2022-01-13T05:55:13","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=90662"},"modified":"2022-01-13T06:55:13","modified_gmt":"2022-01-13T05:55:13","slug":"nigerias-economy-projected-to-grow-at-2-5-in-2022-world-bank","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/nigerias-economy-projected-to-grow-at-2-5-in-2022-world-bank\/","title":{"rendered":"Nigeria\u2019s Economy Projected To Grow At 2.5% In 2022 – World Bank"},"content":{"rendered":"
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The World Bank has projected Nigeria\u2019s economy to grow by 2.5 per cent in 2022.<\/div>\n
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\nIn its latest Global Economic Prospects report released in Washington on Tuesday, the Bretton Wood institution cited higher oil prices and accelerated growth in telecommunication and financial services as some of the factors responsible for the rebound of the country\u2019s economy.<\/p>\n

In 2021, the World Bank had projected a 2.4 per cent growth for the Nigerian economy.<\/p>\n

The bank expected the global growth to decelerate markedly from 5.5 per cent in 2021 to 4.1 per cent in 2022, then 3.2 per cent in 2023.<\/p>\n

According to the report, \u201cIn Nigeria, growth is projected to strengthen somewhat to 2.5 percent in 2022 and 2.8 percent in 2023.\u201d<\/p>\n

The report read further, \u201cThe oil sector should benefit from higher oil prices, a gradual easing of the Organization of the Petroleum Exporting Countries (OPEC) production cuts, and domestic regulatory reforms.<\/p>\n

\u201cActivity in service sectors is expected to firm as well, particularly in telecommunications and financial services. However, the reversal of pandemic-induced income and employment losses is expected to be slow; this, along with high food prices, restrains a faster recovery in domestic demand.<\/p>\n

\u201cActivity in the non-oil economy will remain curbed by high levels of violence and social unrest, as well as the threat of fresh COVID-19 flare-ups with remaining mobility restrictions being lifted guardedly because of low vaccination rates \u2014 just about 2 percent of the population, had been fully vaccinated by the end of 2021.\u201d<\/p>\n

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<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The World Bank has projected Nigeria\u2019s economy to grow by 2.5 per cent in 2022. 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