According to the World Bank’s Pakistan Development Update Report, Pakistan’s economic growth rate this fiscal year will remain at 1.8 per cent instead of 3.5 per cent.
The Pakistan Development Update Report states that macroeconomic risks persist and the debt burden has increased, with the poverty rate expected to increase by 4.5 per cent in the fiscal year 2022-23, with an additional 10 million people falling below the poverty line. There is a fear of
According to the report, due to tight macroeconomic policy and increased borrowing, investment has slowed, with the primary balance expected to be 0.1 per cent of GDP, which will be 0.3 per cent in the next fiscal year.
According to the report of the World Bank, the current account deficit is expected to be 0.7% in the current fiscal year, while the current account deficit is expected to decrease further to 0.6% of GDP in the next fiscal year.
The report states that Pakistan’s expected external debt requirement will remain unchanged, the debt ratio is expected to decrease to 73.1 per cent of GDP in the current fiscal year, while the debt ratio is expected to decrease to 72.5 per cent of GDP in the next fiscal year.
According to the World Bank report, economic activities improved in the first half of fiscal year 2024 due to strong agricultural production, along with improvement in confidence, some other sectors have also helped in recovery, but this rate of growth and improvement is insufficient to reduce poverty. Is
