Nigeria, other oil producers face 2.25% loss – IMF

Energy-exporting countries, including Nigeria, could see about 2.25 per cent loss in economic growth annually from 2015 to 2017, compared to 2012 to 2014, due to the sharp decline in oil prices over the past year, according to the 2015 World Economic Outlook by the International Monetary Fund.

 

The new report, two chapters of which were released on Monday, noted that the recent drop in commodity prices had been accompanied by pronounced declines in real Gross Domestic Product growth rates, much more so in commodity-exporting countries than in other emerging markets and developing economies.

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