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Thursday, 11 August 2016

CURRENT AFFAIRS: South Africa Overtakes Nigeria as Africa's Biggest Economy

South Africa is now the biggest economy in Africa after overtaking Nigeria in the race. The rating was in terms of dollar following the devaluation of the Nigerian naira and introduction of a flexible foreign
exchange regime. The South Africa's currency, rand has since appreciated

Using the Gross Domestic Product (GDP) at the end of 2015 published by the International Monetary Fund. Reports has it that the size of South Africa’s economy was $301 billion at the rand’s current exchange rate, while Nigeria’s GDP was put at $296 billion.

The South Africa's rand has gained more than 16 per cent against the US currency since the start of 2016, while in contrast, Nigeria’s naira has lost more than a third of its value.
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Edited by: Endy Edeson
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FACEBOOK COMMENTS

Clement Heart

Not true

Endy Edeson

so, why? is the dollar exchange rate not worth rating? @heart

Danny Gold

Congrats to S. A

Endy Edeson

@danny : are you from South Africa?

Salako Saint's Stephen

Just beginning, Togo is coming

Danny Gold

Am not but i spend time there more than i do in 9ja... Besides must i come from them before i can be Happy for them on their economic improvement? Nigerians are now suffering because of the self acclaimed incorruptible and saint president they have

Jeremiah Ademolu

Long overdue, unlike big for nothing Nigeria.

Clement Heart

Is not the president issue

Clement Heart

All Nigerians

Eze Solomon Emeka

Yes, all Nigerians who voted for the president are culpable 😂
Next time people will look out for competency and not just a hypocritical "integrity". Such is not enough to run a nation.

Chimmy Ellis Biafran

Kitikpa rachaa gi anya na today you know am

Kingin Richie Carter

with time,we will hit the top....that i believe
 

Chimmy Ellis Biafran

Dreams that never come true

Kingin Richie Carter

stay alive and see my words come true!!!!!

Chimmy Ellis Biafran

1984 propaganda

Jamil Imodibie

Overtaking is free

Mazi Uche Chimadaada

No be today naa

Endy Edeson

@jamil: loosely speaking. "HORN BEFORE OVERTAKING?** South Africa did HORN before Overtaking Nigeria without committing any crime or "Driving One Way". So, like you said Overtaking is free when it's done the right way

Japheth Onyedikachi Nwadiogor

I'm making plans to leave Nigeria for Buhari

Ezeji Nnecky Chidinma

That's what happens when Nigerians left Moses and followed Aaron,shebi we want change,we don get am,soon it will be d last on d list

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