Nigeria Bi-Annual Economic Update, April 2017 : Fragile Recovery

This economic update provides an overview of recent developments in the Nigerian economy.Low oil revenues and the lack of major tax policy reforms to significantly increase non-oil revenues led to large revenue shortfalls at all levels of governmen...

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Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS MONETARY POLICY BALANCE OF PAYMENTS POLICY RESPONSE
Online Access:	http://documents.worldbank.org/curated/en/349511494584937819/Nigeria-Bi-annual-economic-update-2017-fragile-recovery http://hdl.handle.net/10986/26658

id	okr-10986-26658
recordtype	oai_dc
spelling	okr-10986-266582021-05-25T09:49:13Z Nigeria Bi-Annual Economic Update, April 2017 : Fragile Recovery World Bank ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS MONETARY POLICY BALANCE OF PAYMENTS POLICY RESPONSE This economic update provides an overview of recent developments in the Nigerian economy.Low oil revenues and the lack of major tax policy reforms to significantly increase non-oil revenues led to large revenue shortfalls at all levels of governmentin 2016. Monetary policy remained accommodative, with broad money growth at 18.5 percent, driven by increased lending from the Central Bank to the Government to finance the budget deficit. After a sharp depreciation of the exchange rate following the June 2016 liberalization of the Naira,the Central Bank of Nigeria (CBN) maintained theinterbank exchange rate at around N 305 per USD. The chapter second describes the World Bank's view on Nigeria's economic outlook for 2017. The chapter third summarizes the findings of a forthcoming Bank report Toward Sustainable Growth in Nigeria: Empirical Analysis and Policy options, which analyzes the patterns of economic growth in Nigeria; the underlying determinants of growth from both a macro and micro perspective; and policy priorities tosupport higher growth. In addition, analysis of constraints to doing business and the impact of current trade policies highlights the need to improve access to finance, improve the reliability of power supply, and adjust trade policies to promote productivity growth. 2017-05-18T17:19:26Z 2017-05-18T17:19:26Z 2017-04 Report http://documents.worldbank.org/curated/en/349511494584937819/Nigeria-Bi-annual-economic-update-2017-fragile-recovery http://hdl.handle.net/10986/26658 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work Africa Nigeria
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS MONETARY POLICY BALANCE OF PAYMENTS POLICY RESPONSE
spellingShingle	ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS MONETARY POLICY BALANCE OF PAYMENTS POLICY RESPONSE World Bank Nigeria Bi-Annual Economic Update, April 2017 : Fragile Recovery
geographic_facet	Africa Nigeria
description	This economic update provides an overview of recent developments in the Nigerian economy.Low oil revenues and the lack of major tax policy reforms to significantly increase non-oil revenues led to large revenue shortfalls at all levels of governmentin 2016. Monetary policy remained accommodative, with broad money growth at 18.5 percent, driven by increased lending from the Central Bank to the Government to finance the budget deficit. After a sharp depreciation of the exchange rate following the June 2016 liberalization of the Naira,the Central Bank of Nigeria (CBN) maintained theinterbank exchange rate at around N 305 per USD. The chapter second describes the World Bank's view on Nigeria's economic outlook for 2017. The chapter third summarizes the findings of a forthcoming Bank report Toward Sustainable Growth in Nigeria: Empirical Analysis and Policy options, which analyzes the patterns of economic growth in Nigeria; the underlying determinants of growth from both a macro and micro perspective; and policy priorities tosupport higher growth. In addition, analysis of constraints to doing business and the impact of current trade policies highlights the need to improve access to finance, improve the reliability of power supply, and adjust trade policies to promote productivity growth.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Nigeria Bi-Annual Economic Update, April 2017 : Fragile Recovery
title_short	Nigeria Bi-Annual Economic Update, April 2017 : Fragile Recovery
title_full	Nigeria Bi-Annual Economic Update, April 2017 : Fragile Recovery
title_fullStr	Nigeria Bi-Annual Economic Update, April 2017 : Fragile Recovery
title_full_unstemmed	Nigeria Bi-Annual Economic Update, April 2017 : Fragile Recovery
title_sort	nigeria bi-annual economic update, april 2017 : fragile recovery
publisher	World Bank, Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/349511494584937819/Nigeria-Bi-annual-economic-update-2017-fragile-recovery http://hdl.handle.net/10986/26658
_version_	1764462347735269376

Nigeria Bi-Annual Economic Update, April 2017 : Fragile Recovery

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