The International Monetary Fund (IMF) predicts that Pakistan’s economy will rise by 3% in the current fiscal year.
On Friday, the IMF issued its World Economic Outlook report, which included mixed economic estimates for the current and forthcoming fiscal years.
According to the research, Pakistan’s economic growth is predicted to be 3% for the current fiscal year, much lower than the government’s aim of 3.6%. The IMF projected that Pakistan’s growth rate will rise to 4% the following year.
The research included forecasted growth rates for other major economies. India was expected to attain a healthy economic growth rate of 6.5% in both the current and next fiscal years. The IMF highlighted that this continuous rise demonstrated India’s economic resilience in the face of global uncertainty.
The research projected a 2.7% growth rate for the current fiscal year in the United States, with a decrease to 2.1% the next year. Meanwhile, China’s GDP is forecast to rise at 4.6% this year, with a little decline to 4.5% next year.
In the case of the United Kingdom, the IMF forecasted a 1.6% growth rate for the current fiscal year, with a little decrease to 1.5% in the following fiscal year.
This paper highlighted global economic issues and regional inequalities in recovery and growth.