Review Article of Macroeconomic Developments in Q1 2021

  1. Macroeconomic Conditions 2; 2 Financial Sector Developments 8; 3. CBN Monetary Policy and Circulars 11;
In Q1 2021, the global economy, the economies of many developed countries, as well as Emerging Market and Developing Economies (EMDEs) consolidated on growth gains achieved in Q4 2020 to set the growth path for 2021 on a stronger footing. The macroeconomic outlook was brighter than in preceding quarters, as 2021 growth projections by the IMF for the global economy and several countries were higher than the earlier forecasts, while 2020 realized growth rates beat predictions, albeit marginally.