The International Monetary Fund in its recent world economic outlook has projected 3.2% economic growth for Nigeria in 2023.
According IMF, global economic growth is expected to fall from 3.4 per cent in 2022 to 2.8% in 2023.
“The baseline forecast is for growth to fall from 3.4% in 2022 to 2.8% in 2023, before settling at 3.0 per cent in 2024.
“Advanced economies are expected to see an especially pronounced growth slowdown, from 2.7% in 2022 to 1.3 per cent in 2023. In a plausible alternative scenario with further financial sector stress, global growth declines to about 2.5 per cent in 2023 with advanced economic growth falling below 1 per cent.
“Global headline inflation in the baseline is set to fall from 8.7% in 2022 to 7.0 per cent in 2023 on the back of lower commodity prices but underlying inflation is likely to decline more slowly. Inflation’s return to target is unlikely before 2025 in most cases.”