JUST IN: IMF increases Nigeria’s growth forecasts to 4.2%, warns higher prices will aggravate poverty, food insecurity
Synthesised from 2 African sources
2 per cent, even as it warned that higher prices for essentials will aggravate poverty and food insecurity."Nigeria is supported by improved macroeconomic stability and favourable terms-of-trade effects, though higher prices for essentials are expected to further aggravate poverty and food insecurity," the IMF said in its report Tuesday.
The Bretton Woods institution said that the projections are a reflection of the nation's macroeconomic stability, even as it warned that sky-high prices are expected to push more Nigerians into poverty.
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