Thumbs up for GTBank for the very valuable whitepaper they publish on the economic outlook of the country. Last week, they published the one for 2016: what the economy is already like and what the expectations are for the year.
You can download the report here: GTBank Macroeconomic and Banking Sector Themes for 2016.
Though I don't like the opening but I'll leave you to make your own like or hate decision without influencing it. Here's the verbatim quote of the opening sentences:
"According to the Chinese astrological tradition, 2016 is the year of the Monkey. Monkeys are seen to be intelligent, ambitious, witty, brave and possess a great sense of competition. There would be high demand for these attributes as thoughts turn to 2016."
The report talked about five major things:
- How the economic growth is slowing down (Economic Growth)
- Buhari's N500 billion plan to feed school children, give the unemployed poor monthly stipend and how sure are we that the money will actually get to the poor (Social Welfare Scheme)
- The #BuyNigeria crusade, unbundling of NNPC, passing of the PIB in phases and the no-money-to-pay-minimum-wage issue. (Economic Diversification and Reforms)
- The funny looking 2016 national budget, how we are planning to borrow a lot to finance it and expecting N350 billion from looters to fund part of it. (2016 FG Budget)
- Godwin's stand on the Exchange rate, why foreigners are avoiding bringing their money here and how the dollar rise + scarcity is affecting businesses (Exchange Rate Policy and Market Liquidity).