ISLAMABAD: Finance Minister, Senator Mohammad Ishaq Dar Wednesday congratulated the Prime Minister, Muhammad Nawaz Sharif, and the whole nation on international recognition of Pakistan's economic turnaround and prospects. 

The latest addition to this is the most recent report published by Price water house Coopers (PwC), one of the world's foremost financial services firms, Finance Minister said according to statement issued by the Finance Ministry here.

The report projects that Pakistan would become the 20th largest economy by 2030 and the 16th largest economy by 2050.

The Finance Minister stated that Bloomberg has also declared Pakistan as the most underrated economy in the world, in its recent report titled "Pakistan's Economy Is a Pleasant Surprise".

The report acknowledges that recent GDP growth has put Pakistan's economy on a positive path.

It also highlights that the rate of poverty in Pakistan has fallen by half since 2002, rate of terrorist deaths has declined by two-thirds over the past three years, inflation is low, and the country has staved off a foreign-exchange crisis and is rebuilding its reserves.

It also acknowledges that Pakistan has graduated from the International Monetary Fund (IMF) program and is in a stable fiscal state.

The Finance Minister emphasized that these reports, and recent reaffirmation of Pakistan's credit rating by Fitch earlier this week, are a continuation of the recognition by the international media and financial community of Pakistan's economic development and progress.

He said that Pakistan now stands well-placed to realize its true economic potential.

He said that the present government was fully focused on achieving higher, sustainable and inclusive economic growth.

-APP