아프리카ㆍ중동

The COVID-19 pandemic is severely impacting economic activity. The sharp fall in international oil prices and reduced global demand for Nigeria’s oil products are worsening the fiscal and external positions, as Nigeria’s oil and gas exports (84 percent of total exports) are expected to fall by more than $26½ billion. The economy is projected to contract by almost 3½ percent in 2020, a six-percentage point drop relative to pre-COVID-19 projections. The already high downside risks—particularly from sharper and protracted falls in oil prices, a declining oil production from future OPEC caps or inability to sell oil cargoes, and more protracted disruptions to economic activity due to a more expansive effect of the pandemic—have heightened.