Nigeria's GDP records sharp growth in Q2
Nigeria's Gross Domestic Product (GDP) recorded 5.01 percent growth in real terms in the second quarter (Q2) of 2021, according to official data released on Thursday.
The National Bureau of Statistics (NBS) said in a GDP report reaching Xinhua on Thursday that the latest growth rate shows sharp growth compared with the -6.10 percent growth rate recorded in Q2 2020 and the 0.51 percent recorded in Q1 2021 year-on-year, indicating the return of business and economic activities near levels seen prior to the nationwide implementation of COVID-19 related restrictions.
This latest growth signaled the third consecutive quarter of growth following the negative growth rates recorded in Q2 and Q3 of 2020, the NBS noted. "The steady recovery observed since the end of 2020, with the gradual return of commercial activity, as well as local and international travel, accounted for the significant increase in growth performance relative to the second quarter of 2020 when nationwide restrictions took effect," the NBS noted.
A verdict is expected on Friday in Vienna in the corruption trial of one of Europe's most high-profile former far-right leaders. Heinz-Christian Strache resigned as vice-chancellor and head of the far-right Freedom Party (FPOe) in 2019 over a scandal known as "Ibizagate."
The affair brought down the coalition between the FPOe and the centre-right People's Party (OeVP) of Chancellor Sebastian Kurz and triggered fresh elections in the Alpine EU member. The scandal broke when video footage emerged of Strache promising public contracts to a woman posing as a Russian oligarch's niece in exchange for support for the FPOe's 2017 election campaign.
The video, which was secretly filmed on the Spanish resort island of Ibiza, led to a sprawling investigation by anti-corruption prosecutors who turned up several other allegations of wrongdoing against Strache and other prominent politicians.
Strache's trial, which opened last month with hearings lasting a total of five days, focuses on charges that the 52-year-old helped change the law in return for donations to the FPOe and favours for Strache personally.
Both Strache and his co-accused Walter Grubmueller, a long-standing friend and owner of a private health clinic, have denied the allegations against them. "I have never received any favours in my life, I have acted out of conviction," Strache said during his trial.
If found guilty, Strache could face up to five years in prison, although any ruling can still be appealed to a higher court. The courtroom is due to hear closing arguments from both sides on Friday morning, and the verdict in the afternoon.
According to an SMS exchange uncovered by prosecutors and leaked to Austrian media, Strache asked Grubmueller which amendments to legislation would be needed in order for Grubmueller's clinic "to finally be treated in a fair manner". During Strache's time in government, the law was amended to enable clinics like that of Grubmueller to receive money from the public health insurance fund.