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The International Monetary Fund (IMF) has projected a GDP growth rate for Pakistan of 2 percent for the current fiscal year 2024, reflecting a notable improvement from the -0.2 percent recorded in fiscal year 2023. Alongside this growth, the IMF forecasts a decline in inflation from 29.2 percent to 24.8 percent and a decrease in unemployment from 8.5 percent to 8 percent.
In its latest report titled ‘World Economic Outlook (WEO): Steady but Slow: Resilience amid Divergence‘, released on Tuesday, the IMF highlights Pakistan’s anticipated GDP growth rate of 3.5 percent in fiscal year 2025.
Read Also: Pakistan Finance Minister Initiates Talks with IMF for New Loan Program
Additionally, the IMF has revised downwards its inflation rate projection to 24.8 percent for the current fiscal year and 12.7 percent in fiscal year 2025, a significant reduction from the 29.2 percent recorded in fiscal year 2023.
Projections indicate a decrease in unemployment to 8 percent in 2024, down from 8.5 percent in 2023, with further improvement to 7.5 percent in 2025.
Moreover, the current account balance is expected to be negative 1.1 percent for 2024, compared to negative 0.7 percent in 2023 and a projected negative 1.2 percent for 2025.