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Nigeria's economy has been projected to grow faster than South African Economy in the 2018 fiscal year, according to a recent report released by International Monetary Fund (IMF). According to the report entitled "World Economic Outlook for July 2017", the IMF stated that Nigeria's economy will grow at 1.9% in 2018 fiscal year while that of South Africa will witness 1.2% growth.

The report reads in part


“In Sub-Saharan Africa, the outlook remains challenging. Growth is projected to rise in 2017 and 2018, but will barely return to positive territory in per capita terms this year for the region as a whole—and would remain negative for about a third of the countries in the region”


“The slight upward revision to 2017 growth relative to the April 2017 WEO forecast reflects a modest upgrading of growth prospects for South Africa, which is experiencing a bumper crop due to better rainfall and an increase in mining output prompted by a moderate rebound in commodity prices"


“However, the outlook for South Africa remains difficult, with elevated political uncertainty and weak consumer and business confidence, and the country’s growth forecast was consequently marked down for 2018” it added

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