{"id":27784,"date":"2024-04-17T16:31:11","date_gmt":"2024-04-17T16:31:11","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=27784"},"modified":"2024-04-17T16:31:11","modified_gmt":"2024-04-17T16:31:11","slug":"imf-predicts-26-3-drop-in-nigerias-inflation-by-2024","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/04\/17\/imf-predicts-26-3-drop-in-nigerias-inflation-by-2024\/","title":{"rendered":"IMF Predicts 26.3% Drop in Nigeria’s Inflation by 2024"},"content":{"rendered":"
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The International Monetary Fund (IMF) has forecasted a significant drop in Nigeria’s inflation rate to 26.3% by 2024. This projection was part of the IMF’s revised Global Economic Outlook released earlier this week, which also predicted a 3.3% growth for Nigeria’s economy this year.<\/p>\n

In its report, the IMF maintained the growth prospects for Sub-Saharan Africa (SSA) in 2024, with a slight upgrade attributed to Nigeria’s improved growth outlook, offsetting downward forecasts for other countries like Angola.<\/p>\n

According to the IMF, Nigeria’s economy is expected to grow by 3.0% in 2025, a slight decline from its previous projection. The SSA region as a whole is forecasted to experience growth of 3.8% in 2024 and 4.0% in 2025, driven by the gradual improvement in supply issues and the easing of earlier weather shocks.<\/p>\n

Additionally, the IMF noted a slight uptick in growth for advanced economies, with projections increasing from 1.6% in 2023 to 1.7% in 2024, and further to 1.8% in 2025.<\/p>\n

However, Nigeria has been grappling with persistent inflationary pressures throughout the year. The country’s inflation rate rose from 29.90% in January to 33.2% in March, posing challenges to its economic stability despite the IMF’s optimistic long-term forecast.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The International Monetary Fund (IMF) has forecasted a significant drop in Nigeria’s inflation rate to 26.3% by 2024. This projection was part of the IMF’s revised Global Economic Outlook released earlier this week, which also predicted a 3.3% growth for Nigeria’s economy this year. In its report, the IMF maintained the growth prospects for Sub-Saharan […]<\/p>\n","protected":false},"author":27,"featured_media":27785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173,176],"tags":[],"class_list":["post-27784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-opinion"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=27784"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27784\/revisions"}],"predecessor-version":[{"id":27795,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27784\/revisions\/27795"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/27785"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=27784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=27784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=27784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}