The International Monetary Fund (IMF) has announced its forecast for Pakistan’s economic growth, predicting a 3.2% increase for the current fiscal year.
This projection, while below the government’s budget target, is higher than estimates from both the World Bank and the Asian Development Bank, which anticipate a growth rate of 2.8%.
Accompanying this growth, the IMF expects inflation to be at a single-digit rate of 9.5%, a significant decrease from the previous year’s rate of 23.4%.
The current account deficit is projected to remain stable at around 1% of GDP.
In its recently released World Economic Outlook, the IMF highlighted ongoing global economic challenges, including regional conflicts and a slowdown in China, but remains optimistic about Pakistan’s gradual growth improvement, aiming for a rate of 4.5% by 2029.
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