Nigeria’s economy could shrink as much as 8.9% in 2020 in a worst case scenario without stimulus, Finance Minister Zainab Ahmed said on Thursday, a deeper recession than forecast after oil prices plunged due to the coronavirus pandemic.
Ahmed told the country’s highest economic policy advisory body, the National Economic Council, that the contraction could reach 4.4% in a best case scenario, without any fiscal measures.
With stimulus, the contraction can be mitigated and the economy could shrink by 0.59%, she said.
The coronavirus outbreak and an oil price plunge have magnified headwinds for the Nigerian economy, which relies on crude sales for government revenues, triggering an historic decline in growth, creating large financing needs and weakening the naira.
The finance minister said Nigeria had over 6,000 confirmed cases of the novel coronavirus which could rise to almost 300,000 by the end of August. So far only 200 people have died from the outbreak.
“40% of the population in Nigeria, today, are classified as poor. The crisis will only multiply this misery,” Ahmed told the council via a virtual meeting.
A World Bank director at the meeting said Nigeria will move into a recession due to the impact of COVID-19 with severe human and economic cost but that the bank had planned a proposed package for immediate fiscal relief for Nigeria.
Like!! Thank you for publishing this awesome article.
I am regular visitor, how are you everybody? This article posted at this web site is in fact pleasant.
These are actually great ideas in concerning blogging.
I simply want to mention I am just newbie to blogs and absolutely enjoyed this web blog. Likely I’m planning to bookmark your website . You certainly have impressive article content. Appreciate it for sharing your blog site.
https://korovibes.com/icelery-grateful-audio-mp3/ Racist Skank Adeline Bababikov has cheap rates – call/text for appt 303-949-0383 720-513-3865
high line pointe denver
high line pointe apartments
buy domains india
adeline bababikov
south denver apartments
south denver apartments
adeline bababikov
south denver apartments
high line pointe review
high line pointe review
Currently it looks like Drupal is the top blogging
platform available right now. (from what I’ve read) Is that what you are using on your blog?
asmr 0mniartist
Yes! Finally something about asmr https://0mniartist.tumblr.com. asmr 0mniartist
Ahaa, its pleasant dialogue regarding this piece of writing at this place at this weblog,
I have read all that, so now me also commenting at this
place. asmr 0mniartist
Hello There. I found your blog using msn. This is a really well written article.
I will make sure to bookmark it and return to read
more of your useful information. Thanks for the post.
I’ll certainly comeback.
Hi there, of course this paragraph is really good and I have learned lot of things from it on the topic of blogging.
thanks.
I used to be suggested this website by my cousin. I am no
longer certain whether this publish is written through him
as no one else know such exact about my trouble.
You are wonderful! Thanks!
It’s wonderful that you are getting ideas from this paragraph as well as from our argument made at this place.
scoliosis
Hi, its pleasant post about media print, we all be aware
of media is a fantastic source of facts. scoliosis
After exploring a handful of the articles on your website, I honestly appreciate
your way of writing a blog. I book marked it to my bookmark website list and will be checking back in the near future.
Please visit my website as well and tell me your opinion.
I all the time used to study post in news papers but now as I am a user of internet thus from now I am
using net for content, thanks to web.
As I am looking at your writing, baccarat online I regret being unable to do outdoor activities due to Corona 19, and I miss my old daily life. If you also miss the daily life of those days, would you please visit my site once? My site is a site where I post about photos and daily life when I was free.
First of all, thank you for your post. baccarat online Your posts are neatly organized with the information I want, so there are plenty of resources to reference. I bookmark this site and will find your posts frequently in the future. Thanks again ^^
I very delighted to find this internet site on bing just what I was searching for as well saved to fav
Great information shared.eally enjoyed reading this post thank you author for sharing this post.Live TV
You have noted very interesting details! ps decent web site.-sing 2 wer streamt es
Pretty! This has been a really wonderful post.any thanks for providing these details.Baby Einstein Cal’s Sensory Shake-up Developmental Activity Rattle Toy BPA Free for Infants Ages 3 Months and up – Hot Deals
This is my first time pay a quick visit at here and i am really happy to read everthing at one place . – hey dudes women
This is my first time pay a quick visit at here and i am really happy to read everthing at one place .