IMF projects Pakistan’s GDP growth at 2pc in current fiscal

The CPI-based inflation will stay around 24.8 percent in FY24 and 12.7 percent in FY25, stated the economic outlook

By Our Correspondent
April 17, 2024
In this file photo taken on April 15, 2020, a sign is seen outside the headquarters of the International Monetary Fund (IMF) in Washington, DC. — AFP
In this file photo taken on April 15, 2020, a sign is seen outside the headquarters of the International Monetary Fund (IMF) in Washington, DC. — AFP

ISLAMABAD: The International Monetary Fund (IMF) has projected that Pakistan’s GDP will grow at 2 percent for the current fiscal year (FY2024) against the official projections of 3.5 percent.

According to the World Economic Outlook issued from IMF headquarters based in Washington, D.C, on Tuesday on the occasion of IMF/World Bank annual spring meeting, IMF expects Pakistan’s gross domestic product (GDP) to grow by 2 percent in FY24 and 3.5 percent in FY25.

The CPI-based inflation will stay around 24.8 percent in FY24 and 12.7 percent in FY25, stated the economic outlook.

It added that the current account deficit would stand at 1.1 percent of GDP in FY24 and 1.2 percent of GDP in FY25. It also estimated the unemployment ratio at 8 percent in FY24 and 7.5 percent in FY25.