The International Monetary Fund (IMF) has reviewed its forecast for Nigeria’s economic growth rate upward to 4.4 percent in 2026.
The Bretton Wood organisation upgraded the rate from an
initial estimate of 4.2 percent, according to the World Economic Outlook (WEO)
released on Monday.
IMF said Nigeria’s economic growth is expected to slowdown
to 4.1 percent in 2027.
The fund further projected that sub-Saharan Africa’s economy
will expand by 4.4 percent in 2026.
Furthermore, the IMF said global economic growth will rise
by 3.3 percent this year, with a slight slowdown of 3.2 percent expected in
2027.
According to the organisation, the new growth rate
represents an upward review from its October 2025 projection of 3.1 percent in
2026.
IMF said strong technology investment, supportive fiscal and
monetary policies, favorable financial conditions, and private sector
resilience have helped offset the effects of shifting trade policies.
The fund also stated that global inflation is projected to decline, although inflation in the United States is expected to return to target more
gradually.
Additionally, the organisation said the key risks include
changing expectations around technology and rising geopolitical tensions.
The IMF advised policymakers to rebuild fiscal buffers,
maintain price and financial stability, reduce uncertainty, and push forward
with structural reforms.
On January 13, the World Bank increased its projection for
Nigeria’s economic growth rate for 2026 to 4.4 percent from the 3.7 percent
forecasted in June 2025.
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