Connect with us

Economy: Nigeria Tops South Africa As Africa's Biggest Economy

Piroll

Published

on

Follow
NEWS: Economy: Nigeria Tops South Africa As Africa's Biggest Economy [New Foreign News] » Naijacrawl
Photo: Naijacrawl

Despite the fact that Nigeria and South Africa account for half of the continent economy GDP and the debate of whose top the continent economy has been varying of recent due to some variable factors.



However, economic reports have it yesterday that South Africa has plunged into recession towards the end of the first quarter of the year.

Report states " Nigeria’s economic growth beat forecasts in the fourth quarter, helping its economy to expand the most in four years in 2019 as oil output increased and the central bank took steps to boost credit growth. GDP in the West African country stood at $476 billion or $402 billion, depending on the rate used.


While for South Africa’s economy, it went the opposite direction because It slumped into a second recession in consecutive years, contracting more than projected in the fourth quarter as power cuts weighed on output and business confidence. For the full year, expansion was 0.2%, the least since the global financial crisis, and even less than the central bank and government estimated. Based on a average rand-dollar exchange rate of 14.43 for the year, GDP was $352 billion."

However, projections shows that Nigeria economy will continue to grow faster.


Click Here To Comment




Piroll
 

Piroll is a creative writer, social-political commentator, socio-researcher, and sports analyst. He holds certificates in media management and data journalism from the Thomas Foundation Institute of Journalism. He works as a... Read More

Continue Reading
Click to comment

Be first to comment


Leave a Reply

Your email address will not be published. Required fields are marked *

Foreign News

In South Africa, Machine Deployed To School To Stop This Among Students

Piroll

Published

on

FOREIGN NEWS: In South Africa, Machine Deployed To School To Stop This Among Students [New Foreign News] » Naijacrawl
Photo: Naijacrawl
South Africa is one of the country that HIV/AIDS is prevalent in the world and on the quest to reduce the prevalence of HIV in the country, the department of basic education in South Africa has made available condom vending machines in some schools in a bid to decrease teenage pregnancies and the incidence of HIV/Aids.The provision of condoms is one of the services offered in a programme targeting adolescent girls and young women aged 10 to 19.Working with the depa...
Continue Reading

Foreign News

Ex South Africa President; Jacob Zuma Freed From Prison

Piroll

Published

on

FOREIGN NEWS: Ex South Africa President; Jacob Zuma Freed From Prison [New Foreign News] » Naijacrawl
Photo: Naijacrawl
Former South Africa President has been freed based on medical parole today, it will be recalled that Zuma was arrested in July for contempt of court a situation that lead to wide spread riot in the country, however, Zuma has now been placed on medical parole, according to the Department of Correctional Services.In a statement released on Sunday afternoon, the department said: "Medical parole's eligibility for Mr Zuma is impelled by a medical report received by the D...
Continue Reading

Foreign News

See The Face Of A New Born Baby In South Africa

Piroll

Published

on

FOREIGN NEWS: See The Face Of A New Born Baby In South Africa [New Foreign News] » Naijacrawl
Photo: Naijacrawl
A 20-year-old mother from Libode has given birth to a baby girl with an extremely rare condition known as Hutchinson-Gilford progeria syndrome.Hutchinson-Gilford progeria syndrome impacts roughly one in 20 million children born and people with the condition face accelerated ageing.Initial signs of the condition were picked up by local midwives who noticed that the little girl was born with not only deformations in her hands but also wrinkles on her skin.
Continue Reading

Latest


Download Naijacrawl App today

Fastest way to read on the go

Download the Naijacrawl App.