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World Bank Slashes Nigeria and South Africa 2016 Growth Forecast
LAGOS, Nigeria, Capital Markets in Africa: The World Bank cut Nigeria’s economic growth forecast for this year, citing weakness from oil-output disruptions and low prices. The lender, in its semi-annual Global Economic Prospects report, said Africa’s biggest economy is expected to grow 0.8 percent, down from an estimate of 4.6 percent in January. Growth is projected to pick up to 3.5 percent in 2017, it said. Furthermore, forecast South Africa’s economy to expand 1.1% in 2017,…
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