The International Monetary Fund has reviewed upward its growth forecast for the Nigerian Economy. The 1.5% growth prediction has now been revised to 2.5%.
The IMF also predicts that the African economy will grow at a 3.4% rate in 2021 from its initial 3.2%.
Globally, the IMF has predicted the world economy to grow at 6% with India (12.5%), the U.S (6.4%) and China (8.4%) – the only economy that grew in 2020 by 2.3%, championing that process.
An estimated 95 million people have been estimated to fall below the extreme porverty threshold in the 2020 – 2021 timeframe.
The report, however, noted that the projections are based on the response to the coronavirus vaccines and the global response to pandemic recovery.