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Economy performed better than expected in 2016 – Presidency

By on March 1, 2017

The Presidency says though the nation is still in the early stages of recovery,the economy, overall, performed better than expected in 2016.

The Special Adviser to the President on Economic Matters, Adeyemi Dipeolu, stated this on Tuesday while reacting to the GDP figures released yesterday by the National Bureau of Statistics.

He said though the figures reflected the “slowdown” in the economy for most of 2016,it also showed that the recession “may have bottomed out” because of an improving trend in several key sectors.

“Overall, the Nigerian economy performed better than expected even though we are still in the early stages of recovery. It is indeed noteworthy that overall, 2016 growth was higher with a contraction at -1.5% than the -1.8% predicted by the IMF,”he said