ISLAMABAD: The International Monetary Fund (IMF) has projected Pakistan’s GDP growth rate at 1.5 percent for the current fiscal year 2020-21 compared to negative 0.4 percent for the previous fiscal year 2019-20.
The PTI led government has envisaged GDP growth rate target of 2.1 percent for the current fiscal 2020-21 with the expectation that the recovery of economic activities will help achieve the growth trajectory in the aftermath of overcoming COVID-19 pandemic.
The IMF had projected the GDP growth rate of positive 1.9 percent for Pakistan in the last fiscal year but after the outbreak of Coronavirus, the GDP growth had tumbled and stood at negative 0.4 percent for the fiscal year that ended on June 30, 2020.
According to Economic Outlook for 2021 update released by the IMF on Tuesday, Pakistan’s GDP growth forecast is projected at 1.5 percent for the current fiscal year as difference from October last projection was 0.5 percent.
The IMF had projected GDP growth rate at 1 percent but now it revised upward to 1.5 percent for the current fiscal year. The IMF has projected that Pakistan’s growth rate would be 4 percent of GDP in next fiscal year 2021-22.
The IMF’s World Economic Outlook for 2021 shows that global economy is projected to grow at 5.5 percent, emerging economies 8.3 percent and Africa at 3.2 percent. India is projected to grow at 11.5 percent, China 8.1 percent, Malaysia 7 percent, Turkey 6 percent, France 5.5 percent, USA 5.1 percent, Mexico 4.3 percent and Nigeria 1.5 percent.
A key focus of talks was high-quality development of China-Pakistan Economic Corridor
Salman Raja stresses that safeguarding citizens’ fundamental rights, as enshrined in Constitution, remains court’s...
There is no word yet on whether these recommendations are being considered seriously or at what stage process is at
Court directed Central Depository Company of Pakistan Ltd to amend central depository register accordingly
It adds that timeline of events leaves no ambiguity regarding who initiated the ceasefire proposal
Cost of projects is up to Rs7bn and it is developed in accordance with Global Sustainable Tourism Council criteria