Nigeria’s economy to grow 2.2% this year -govt document

Nigeria expects its economy to grow 2.2 percent this year, the government said in a strategy document seen by Reuters on Thursday, after the country suffered its first recession in more than two decades in 2016.
The 2018-2020 Medium Term Fiscal Framework and Strategy Paper, to form the basis for its 2018 budget, projects spending of 7.94 trillion naira ($21.75 bln) next year, up 6.7 percent from the sum budgeted for 2017. The document was dated July 27.
The International Monetary Fund (IMF) on Wednesday said it expects Africa’s biggest economy to grow by 0.8 per cent this year, with threats to growth remaining elevated.
Credit: Reuters