The Slowest Growing Economies In terms of economic performance, the year 2016 is going down as a miserable year for many countries. The sharp declines in crude oil and other commodity prices have exposed the pathetic inability of many countries to diversify their economies away from perilous dependency on the fortunes of the oil economy. Many countries, across the world that have found themselves in this situation will struggle through the coming years to free themselves from serious exchange rate problems and general economic malaise. For the world as a whole real GDP growth will average about 3.2 percent in 2016. In Africa, average real GDP growth will cool from about 6 percent in 2012 to a paltry 3.0 percent in 2016. In this connection, 1-Which of the following economies will likely experience the slowest pace of economic growth in 2016. 1. Russia, 2. 2. Brazil, 3. 3. Nigeria and 4. 4. Venezuela. 2-Which of the following Sub Saharan African countries is likely to show the slowest real GDP growth in 2016? 1. South Africa, 2. 2. South Sudan, 3. 3. Swaziland and 4. 4. Equatorial Guinea. ANSWERS 1-Globally, Venezuela, is the country likely to drop about a whopping 8 percent in 2016. 2-In sub Saharan Africa, war ravaged South Sudan will most probably grow the slowest in terms of real GDP, dropping over 7.5 percent. Although real GDP growth is not the best measure of improvements in wellbeing, as compared to say personal consumption, it gives us a good way of comparing nations. For those wanting to hear about Nigeria, there is nothing technical about it, the nationâ€™s economy is in serious distress and things are difficult for the people. We must think of quick ways to get out of this.
Posted: Aug 24th, 2016 @ 01:31:00 AM