Nigeria: Commodity Prices to Stabilize but Remain Low Through 2017 - World Bank

12 February 2016
interview

SUNDAY: Global growth continues to disappoint and is now estimated as a slower than expected 2.4 percent in 2015. What is your outlook for Sub-Saharan Africa?

KAMBOU: Our outlook for Sub-Saharan African is for a moderate pickup in growth in 2016 to about 4.2 percent. This reflects our view that growth will continue to remain weak in the region's largest economies which include Nigeria, South Africa and Angola. Nigeria and Angola are the region's two largest oil exporters and they have been hit quite hard by the decline in oil prices. On the other hand, many of the region's low-income economies such as Rwanda, Tanzania, Ethiopia should continue to see a turnover of growth, also activity is expected to slow down as a result of low commodity prices.

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