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by Business News Report

World Bank Group has predicted that Nigeria will in 2017 be out of economic recession, and grow its economy by one per cent. The multilateral institution  forcasted that growth in oil-exporting countries will be weaker, stating that economies that are not natural-resources intensive will experience robust growth.

The World Bank in a statement released on Thursday further projected that the global economy will accelerate moderately to 2.7 percent in the year.

According to the Bank, “Sub-Saharan African growth is expected to pick up modestly to 2.9 percent in 2017 as the region continues to adjust to lower commodity prices.

“Growth in South Africa and oil exporters is expected to be weaker, while growth in economies that are not natural-resource intensive should remain robust.

“Growth in South Africa is expected to edge up to 1.1 percent. Nigeria economy is forecast to rebound from recession and grow at a 1 percent while Angola is projected to expand at a 1.2 percent pace.”

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