Thursday, March 1, 2012

Economic Growth Remains Strong - IMF

1 March 2012

The International Monetary Fund (IMF) says Nigeria's economic growth remains strong.

It said this in a statement posted on its website after the Executive Board of the Fund concluded the 2011 Article IV consultation with Nigeria.

The Fund said that the country's non-oil real Gross Domestic Product (GDP) was estimated to have grown by 8.3 per cent in 2011 while the overall real GDP stood at 6.7 per cent.

It said that Inflation slightly declined to 10.3 per cent in December, 2011 from 11.7 per cent a year earlier in response to the Central Bank of Nigeria's tightening of monetary policies and moderation of food prices.

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