Pakistan’s economy is set to grow 3.5% in 2025 and 5.0% in 2029, the International Monetary Fund said on Tuesday while estimating growth estimate for fiscal year 2024 to two per cent.

The Fund’s World Economic Outlook (WEO) for April said the consumer prices in the South Asian country are projected to decrease next year.

Overall, the global economy is set for another year of slow but steady growth, with US strength pushing world output through headwinds from lingering high inflation, weak demand in China and Europe, and spillovers from two regional wars.

The IMF forecast global real GDP growth of 3.2% for 2024 and 2025 – the same rate as in 2023. The 2024 forecast was revised upward by 0.1 percentage point from the previous outlook’s estimate in January, largely due to a significant upward revision in the US outlook.