Country Economic Forecasts > Nigeria

Country Economic Forecasts > Nigeria

  • July 2019 •
  • 8 pages •
  • Report ID: 1907620 •
  • Format: PDF
Oil output increased in Q2 following disruptions brought about by pipeline leakages earlier in the year. This should provide GDP with a temporary boost. However, the rebound in non-oil activity now looks slightly more fragile, with leading indicators gradually sliding off recent highs. Slower-than-anticipated implementation of the new minimum wage will dampen its impact on aggregate demand, while low-trending oil prices curb the potential for growth-supportive fiscal spending. As such, we have revised our growth forecast slightly lower to 2.3% in 2019.
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