KPMG lists trends that will determine Nigerian economy in 2020
Amazing economic update from KPMG. The company has listed global pressure points and external shocks, fiscal unsustainability, exchange rate market, credit and reactive policy environment as factors that would determine the success of the Nigerian economy in 2020.
The multinational professional services firm disclosed this at the America Business Council’s second economic update on Wednesday in Lagos.
Speaking at the forum, the Associate Director, Strategy and Economics, Management Consulting, KPMG Nigeria, Olusegun Zaccheaus, explained that the the global developments in 2020 portends significant risks for the Sub-Saharan countries.
Others factors are investment for growth, productivity, technology and digital disruption, socio-economic pressure and consumer pressure points.
While providing an update on the Nigerian economy, it was stated that it currently stands on a slippery slope of recovery. According to KPMG, the Nigerian economy which recorded a growth rate of 6.21% in the first quarter of 2014, has continued to witness very slippery growth recovery since the 2016 recession.
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