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Nigeria revises down 2017 economic growth forecast to 1.5 pct from 2.19 pct - document
October 19, 2017 / 4:33 PM / a month ago

Nigeria revises down 2017 economic growth forecast to 1.5 pct from 2.19 pct - document

ABUJA, Oct 19 (Reuters) - Nigeria has revised down its forecast for 2017 economic growth to 1.5 percent from 2.19 percent, according to a document seen by Reuters on Thursday.

Oil production, on which Nigeria relies for about two-thirds of government revenues, was at 1.9 million barrels per day for 2017, as of July, against an estimated 2.2 million barrels per day, said the document.

Titled “The 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper”, the document was prepared by the Ministry of Budget and National Planning and is dated August 2017. (Reporting by Camillus Eboh; Additional reporting by Alexis Akwagyiram and Chijioke Ohuocha in Lagos; Writing by Paul Carsten)

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