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Afrinvest West Africa Page 2 Outline Section 1 Executive Summary 04 Section 2 Global Economy and Financial Markets Review and outlook 14 Synchronised Global Growth Expansion to Continue Despite Policy Stability Risks 15 Policy Normalization by Systemic Central Banks Remains Downside Risk to EMs & DEs Growth 16 Global Markets: Consensus Opinion Points to Further Gains against Strong Macro Backdrop 16 Section 3 Domestic Macroeconomic Review and outlook 17 The Recession and its Aftermath 18 Business Cycle Turnaround: Cyclical Oil Earnings Upswing Masks Structural Reform Inertia 19 2018 Macroeconomic the Recovery 22 Section 4 Equities market Review and outlook 29 Equites market Performance and outlook A possible Game of Two Halves?
Page 6 Nigerian Economy & Financial Market Outlook 2018 Executive Summary Although price level growth disappointed for much of the year, persistently
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