Niger Republic’s macro-economic performance satisfactory -IMF

The International Monetary Fund on Saturday described the overall economic performance in the Republic of Niger as “generally satisfactory.”

Head of an IMF staff mission for Article IV Consultation in Niger, Mr. Cheikh Gueye, indicated this in a report released at the end of the team’s exercise.

Gueye said the mission, which was in Niamey from Oct. 21 to Nov. 3, also carried out the fifth review of the country’s performance, under the Extended Credit Facility arrangement.

He said the mission held fruitful discussions with senior government officials, private sector operators, civil society and other economic stakeholders in the course of the exercise.

“Niger’s overall macro-economic performance has been generally satisfactory, economic growth slowed to 4.1 per cent in 2013.

“This was largely due to the adverse climatic conditions on agriculture and the regional security situation, in spite of a significant increase in oil production,” he said.

The IMF official said that inflation was checked to remain at 2.3 per cent in 2013, as food prices fell following the government’s food security programme and improved food markets.

He however stated that government’s resources and project implementation capacity, continued to weigh down public INVESTMENT.

Gueye said that Niger’s performance under the ECF programme was mixed, following repeated shocks on the budget.

Gueye said that the medium-term outlook for Niger was favorable, noting that growth was expected to rebound to 6.5 per cent before the end of 2014.

Source: Punchng