{"id":79869,"date":"2023-01-11T13:11:12","date_gmt":"2023-01-11T12:11:12","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank"},"modified":"2023-01-11T14:35:49","modified_gmt":"2023-01-11T13:35:49","slug":"high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank","title":{"rendered":"High borrowing costs, inflation weakens Nigeria\u2019s fiscal position \u2013 World Bank"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The World Bank says the high costs of borrowing, reduced energy prices in the international market, inflation and slow growth in oil production have weakened Nigeria\u2019s fiscal position.<\/p>\n

The latest data from the Global Economic Prospects report by the World Bank on Tuesday disclosed.<\/p>\n

The US-based bank also said Nigeria\u2019s growth dropped to 3.1 per cent in 2022 and will further reduce to 2.9 per cent this year.<\/p>\n

\u201cPolicy inconsistency, continued high inflation, and rising incidence of violence are expected to temper growth. Agriculture sector growth is likely to soften because of the destruction from last year\u2019s flooding.<\/p>\n

\u201cThe fiscal position is expected to remain weak because of high borrowing costs, lower energy prices, a sluggish growth of oil production, and a subdued activity in the non-oil sectors.\u201d<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The World Bank says the high costs of borrowing, reduced energy prices in the international market, inflation and slow growth in oil production have weakened Nigeria\u2019s fiscal position. The latest data from the Global Economic Prospects report by the World Bank on Tuesday disclosed. The US-based bank also said Nigeria\u2019s growth dropped […]<\/p>\n","protected":false},"author":84,"featured_media":79868,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,254,580],"class_list":["post-79869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-nigeria","tag-world-bank"],"yoast_head":"\nHigh borrowing costs, inflation weakens Nigeria\u2019s fiscal position \u2013 World Bank - Nigeria<\/title>\n<meta name=\"description\" content=\"The World Bank says the high costs of borrowing, reduced energy prices in the international market, inflation and slow g ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"High borrowing costs, inflation weakens Nigeria\u2019s fiscal position \u2013 World Bank\" \/>\n<meta property=\"og:description\" content=\"The World Bank says the high costs of borrowing, reduced energy prices in the international market, inflation and slow g ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-11T12:11:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-11T13:35:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/01\/postQueueImg_1673430079.40.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"843\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"High borrowing costs, inflation weakens Nigeria\u2019s fiscal position \u2013 World Bank\",\"datePublished\":\"2023-01-11T12:11:12+00:00\",\"dateModified\":\"2023-01-11T13:35:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank\"},\"wordCount\":151,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/01\/postQueueImg_1673430079.40.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Nigeria\",\"world bank\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/high-borrowing-costs-inflation-weakens-nigerias-fiscal-position-world-bank\",\"name\":\"High borrowing costs, inflation weakens Nigeria\u2019s fiscal position \u2013 World Bank - 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