The World Bank Global Economic Prospects report released shows that the sub-Saharan African growth is projected to slightly increase by 2.9 percent “while the global economic growth would pick up moderately to 2.7 percent in 2017,” Jim Yong Kim, World Bank Group President cited. The report for 2017 projected stronger global economic prospects after years of disappointing global growth, the World Bank is encouraged to see stronger economic prospects on the horizon, Jim stressed. However, the World Bank prediction that Nigeria will get out of recession and grow its Gross Domestic Product by one percent is another forecast by a global body, as reputable individuals and companies also have an outlook for the economy. Also, the World Bank projects growth in advanced economies, which would edge up to 1.8 percent in 2017, and growth in emerging market and developing economies should generate up to 4.2 percent this year from 3.4 percent in 2016 amid steadily rising commodity prices. However, Ayhan Kose, the World Bank Development Economics Prospects Director reports that growth in the U.S. is expected to slightly increase to 2.2 percent, as the forecast is a borderline for policies in major economies.

Source: The North Africa Journal January 13, 2017 15:40 UTC