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GLOBAL ECONOMIC OUTLOOK
The International Monetary Fund (IMF) has projected that Nigeria is heading to a recession, its worst recession in three decades, as it expects the nation's economy to recede by 3.4% in 2020.
The Nigeria’s local bourse began on Monday morning on a bearish note amid a slump in crude prices, which fell over ▼10% , as Brent oil was trading below $35 causing a shortfall in revenue to Nigeria’s 2020 budget,
The IMF released its Global Economic Outlook where the fund announced it expects global growth to slow in 2020 to 2.9% (World Bank – 2.5%).