Covid-19 threatens Nigeria’s economy [Business Africa]
Falling oil prices, Nigeria in the corona virus chorus, predict a recession that could lead to a devaluation of the national currency.
The corona virus continues to claim human, economic and economic accidents. This is the case with Nigeria, which will cut its operating budget for this year.
The current crisis caused by falling oil prices could have other consequences, including a recession and a devaluation of the national currency, Naira.
Algeria wants to stabilize crude prices
Algeria plays the card with caution ahead of Covid-19, the government has cut its public spending, including the volume of imports.
Algeria, also a victim of the Covid-19 pandemic, wants to meet the fall in oil prices. Algiers has implemented a policy aimed at reducing public spending: minus 30% in the state’s operating budget.
Measures to protect the country’s economy as the price of black gold has a huge impact on the producing countries.