Pakistan’s economy is expected to grow by three percent, according to the International Monetary Fund (IMF).
The International Monetary Fund published a range of predictions for global and regional economies in its World Economic Outlook report.
The report states that the economic growth in Pakistan is expected to be at three percent.
The government target for this year stands at 3.6 percent. The IMF believed that the country would grow a little better during the next fiscal year at four percent.
All these figures portray continued problems at both the local economy and the international level.
The report analyzed growth trends in other major economies as well.
It revealed that India’s economy is also likely to grow by 6.5 percent for the current and next fiscal years.
This steady performance underlines India’s resilience in the face of global economic uncertainties.
Meanwhile, lower growth is expected in the United States.
For this fiscal year, IMF estimated the growth rate at 2.7 percent for Pakistan’s economy. While, this might further decline to 2.1 percent the following fiscal year.
Following this same trend, growth in China will be at 4.6 percent for this year, before slightly dropping down to 4.5 percent in the subsequent fiscal year.
The UK growth path is compared to the rest of European nations, which are growing more substantially.
According to the report, this fiscal year will register 1.6 percent, reducing the following year to 1.5 percent.
Forecasts show that different regions develop at different rates.
The IMF study brings out complex economic problems which nations face globally.
It also shows the differences in growth among economies globally as they grapple with unstable economic conditions.
