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NOVA Economic Outlook H2 2020 – A Contraction Like Never Before

The outbreak of Covid-19 has reshaped the outlook across advanced, emerging and developing economies. Beyond any doubt, the impact will reverberate across economies, irrespective of the level of fiscal stimulus or monetary policy adopted to cushion the impact of the...

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  • NOVA Economic Outlook H2 2020 – A Contraction Like Never Before

The outbreak of Covid-19 has reshaped the outlook across advanced, emerging and developing economies. Beyond any doubt, the impact will reverberate across economies, irrespective of the level of fiscal stimulus or monetary policy adopted to cushion the impact of the associated slowdown in economic activities. Particularly in Nigeria, the countries fragile fiscal and external positions have once again been exposed by the crash in crude oil prices, with the impact on the real sector requiring a material intervention which the fiscal and monetary authorities may struggle to provide.

The NOVA H2 2020 Economic Outlook communicates our understanding of global and domestic developments. It also clearly delineates our expectations of development in the Global Crude Oil Market, Domestic Economic Growth, Balance of Payment, Currency and Foreign Exchange Flows, Consumer Prices, Monetary Policy, Fiscal Policy and the Fixed Income Market.

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