Pakistan’s economy is showing signs of recovery and is projected to grow by 2.7% in the ongoing fiscal year, up from 2.5% in the previous year.
As per the World Bank’s latest Pakistan Development Update, real GDP growth will be fueled by a rebound in private consumption and investment, supported by lower inflation, reduced interest rates, and rising business confidence.
The report indicates that Pakistan’s economic conditions are improving, marked by declining inflation, better financial indicators, and both current account and primary fiscal surpluses.
The update emphasizes the importance of structural reforms to attract private investment, enhance digital infrastructure, and support the growth of the digital economy.
The Pakistan Development Update complements the biannual South Asia Development Update, which assesses economic trends and policy issues across South Asian countries.
World Bank Country Director for Pakistan, Najy Benhassine, stated that the major challenge ahead is converting recent stabilization progress into lasting, poverty-reducing economic growth.
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