The Economist Intelligence Unit (EIU), a renowned London-based firm specializing in forecasting economic trends and political dynamics worldwide, has projected that inflation in Nigeria will surge to 30.3% before the end of the year.
This forecast was outlined in the latest country report released by EIU over the weekend. Additionally, EIU anticipates that Nigeria will resort to foreign borrowing to replenish foreign reserves and stabilize the value of the naira towards the conclusion of 2024.
These predictions the challenges facing Nigeria’s economy and the measures expected to be taken to mitigate economic pressures and enhance currency stability amidst inflationary pressures.
Source: The Sun