{"id":12009,"date":"2016-10-19T21:55:36","date_gmt":"2016-10-19T21:55:36","guid":{"rendered":"http:\/\/newsroom247.com.ng\/?p=12009"},"modified":"2016-10-19T21:55:36","modified_gmt":"2016-10-19T21:55:36","slug":"nigerias-economy-still-biggest-in-africa-imf-report","status":"publish","type":"post","link":"http:\/\/newsroom247.com.ng\/?p=12009","title":{"rendered":"Nigeria\u2019s economy still biggest in Africa &#8211; IMF Report:"},"content":{"rendered":"<p><code><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.deltanewsroom.com --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/code><\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.alternativeadvert.com\/show.php?z=30&amp;pl=11197&amp;ad_type=59&amp;rl=180\" width=\"300\" height=\"250\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>A new report from the International Monetary Fund (IMF) has projected Nigeria as Africa\u2019s biggest economy, in spite of its current challenges.<\/p>\n<p>Nigeria is placed ahead of South Africa and Egypt which are second and third respectively.<\/p>\n<p>&nbsp;<\/p>\n<p>In August, Nigeria was reported to have lost its position as Africa\u2019s biggest economy to South Africa, following the recalculation of the country\u2019s Gross Domestic Product (GDP).<a href=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/09\/Nigeria-map.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-11598\" src=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/09\/Nigeria-map-300x224.png\" alt=\"nigeria-map\" width=\"300\" height=\"224\" srcset=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/09\/Nigeria-map-300x224.png 300w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/09\/Nigeria-map.png 654w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>But the IMF\u2019s World Economic Outlook for October, puts Nigeria\u2019s GDP at 415.08 billion dollars, from 493.83 billion dollars in 2015, while South Africa\u2019s GDP was put at 280.36 billion dollars, from 314.73 billion dollars in 2015.<\/p>\n<p>According to the report, Egypt\u2019s 2016 data is not available, but its 2015 size remained at 330.159 dollars while that of Algeria, one of the largest economies on the continent, is put at 168.318 billion dollars.<\/p>\n<p>The United States, China and Japan maintain their spots as the largest economies in the world, ahead of Germany, United Kingdom and France.<\/p>\n<p>According to a review in September, the current economic recession will outlast 2016, with a Gross Domestic Product (GDP) contraction of 1.7 per cent.<\/p>\n<p>NAN reports that the IMF had predicted that Nigeria\u2019s economy would grow away from a recession in 2017.<\/p>\n<p>The country last witnessed a recession, for less than a year, in 1991, and experienced a prolonged one that started in 1982 and lasted until 1984.<\/p>\n<p>President Muhammadu Buhari\u2019s administration has so far disbursed over N700 billion in capital expenditure this year, part of a record N6.06 trillion (30 billion dollars) budget for 2016.<\/p>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.deltanewsroom.com --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<p><code><iframe loading=\"lazy\" src=\"https:\/\/www.alternativeadvert.com\/show.php?z=30&amp;pl=11197&amp;ad_type=59&amp;rl=180\" width=\"300\" height=\"250\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/code><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new report from the International Monetary Fund (IMF) has projected Nigeria as Africa\u2019s biggest economy, in spite of its current challenges. Nigeria is placed ahead of South Africa and Egypt which are second and third respectively. &nbsp; In August, Nigeria was reported to have lost its position as Africa\u2019s biggest economy to South Africa, [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":11598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"ngg_post_thumbnail":0,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1],"tags":[1013],"class_list":["post-12009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-imf"],"jetpack_featured_media_url":"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/09\/Nigeria-map.png","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4oswh-37H","_links":{"self":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/12009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12009"}],"version-history":[{"count":1,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/12009\/revisions"}],"predecessor-version":[{"id":12010,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/12009\/revisions\/12010"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/media\/11598"}],"wp:attachment":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12009"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}