Pakistan-(Special Correspondent/Webdesk): The International Monetary Fund (IMF) has released its economic growth forecast for Pakistan, predicting a 3.2% increase for the current fiscal year. Although this figure falls short of the government’s budgeted target, it surpasses the growth estimates provided by the World Bank and the Asian Development Bank, which both projected a 2.8% rise.
Pakistan’s Economy to Recover Gradually: IMF
In addition to the growth forecast, the IMF anticipates that inflation will drop to a single-digit rate of 9.5%, marking a substantial decrease from the previous year’s inflation rate of 23.4%. The IMF also projects that Pakistan’s current account deficit will remain steady, hovering around 1% of GDP.
In its latest World Economic Outlook, the IMF acknowledged persistent global economic challenges, including regional conflicts and a slowdown in China’s economy, but maintained a positive outlook for Pakistan’s gradual recovery. The IMF expects Pakistan’s growth rate to improve further, targeting 4.5% by 2029.
Pakistan’s Economy to Recover Gradually: IMF
Furthermore, the IMF predicts a decline in Pakistan’s unemployment rate, which is expected to fall from 8% this year to 7.5% next year, although the report did not elaborate on the specific methodologies used for these projections.
Follow us on our social media platforms here: Twitter WHATSAPP CHANNEL FACEBOOK PAGE
Comments are closed, but trackbacks and pingbacks are open.