May 21, 2020 / 4:50 PM / 2 months ago

Nigeria's economy to contract by 8.9% this year in worse case - fin min

ABUJA, May 21 (Reuters) - Nigeria’s economy could shrink as much as 8.9% in 2020 in a worse case scenario without stimulus, Finance Minister Zainab Ahmed said on Thursday, a deeper recession than forecast after oil prices plunged due to the coronavirus pandemic.

Ahmed told the country’s top advisory body, the National Economic Council, that the contraction could reach 4.4% in a best case, without any fiscal measures. (Reporting by Felix Onuah; Writing by Chijioke Ohuocha; Editing by Alex Richardson)

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