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ECOWAS projects growth rate of 7.1 per cent in 2014

08 January 2014, 15:12

Abuja - The Economic Community of West African States (ECOWAS) has projected an economic growth rate of 7.1 percent in 2014.

This is contained in a statement issued in Abuja and signed by Sunny Ugoh, the Assistant Director of Communications in ECOWAS.

The statement said that the projection was higher than the 6.3 per cent growth rate in 2013 and 6.6 per cent in 2012.

A breakdown of the projection shows that Sierra Leone will record the highest growth rate of 14.6 percent and Cape Verde with the lowest growth rate of 0.5 percent.

“In addition, six member states, Burkina Faso, Nigeria, Ghana, Liberia, Côte d’Ivoire and Sierra Leone would post higher growth rates than the projected 7.1 percent growth rate for ECOWAS.

“The sources of growth would be increase in gas production, oil and various minerals as well as improvement in agricultural production,’’ the statement said.

-    NAN


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