Nigerian Business News – One of the world’s leading credit rating agencies, Moody’s Investor Services, has said Nigeria’s GDP will grow by 2.5% in 2017.
This was stated by the agency’s Vice-President and Lead Analyst for Nigeria, Lucie Villa.
“The government’s balance sheet is strong, with debt at around 16.6 per cent of Gross Domestic Product in 2016,” Villa said.
Moody, however, said Nigeria’s weak institutional framework, especially in terms of “the rule of law, government effectiveness and control of corruption,” would have a significant impact on its economic growth and fiscal strength, and thereby constrain the country’s B1 rating.
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