By Michael Lalor/Business Day
THIS week’s news that Nigeria’s gross domestic product (GDP) is higher than South Africa’s has generated significant debate locally, with some commentators inferring that the news will have a negative effect on investor sentiment and that it is further evidence that South Africa’s economy is sliding backwards.
As the rebasing of Nigeria’s GDP has been signalled for a long time, the result is not surprising; however, the statistical recalculation of the size of the Nigerian economy must be looked at in context. Read More ....
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