Pakistan’s growth rate is expected to be 1.8% this fiscal year, World Bank
Pakistan’s growth rate is expected to be 2.3% in fiscal year 2025 and 2.7% in 2026.
During the current financial year-24 2023, the growth of the agriculture sector could be up to 3 percent
Decline in interest rate and inflation depends on sustainable financial stability, co-subsidies, grants, loans from various sectors are affecting the economy, Outlook Report
Islamabad ( Web News )
The World Bank has shown the possibility that Pakistan’s economic growth rate will be 1.8 percent this fiscal year, compared to last year, the budget deficit will increase to 8 percent of the GDP. Estimated. The World Bank said in the Pakistan Macroeconomic Outlook report that Pakistan’s growth rate is expected to be 2.3 percent in fiscal year 2025 and 2.7 percent in fiscal year 2026. According to the World Bank, during the current financial year-24 2023, the growth of the agriculture sector can be up to 3 percent, in the financial year 2025, the agricultural growth rate is likely to decrease to 2.2 percent, while the World Bank has predicted the growth of agriculture in the financial year 2026. It is forecast to increase by 2.7 percent. The report further states that industrial growth is expected to be 1.8 percent during the current fiscal year, while it is expected to be 2.2 percent in the next fiscal year 2025 and 2.4 percent in 2026. The report states that the budget deficit is estimated to increase to 8 percent of GDP during the current financial year as compared to last year. The World Bank said in the report that the reduction in interest rate and inflation depends on sustainable financial stability, co-subsidies, grants, loans in various sectors are affecting the economy. According to the World Bank, 18 percent of the government’s financial deficit is included in government institutions, in the year 2022 government institutions incurred expenses of 1,303 billion rupees. In the report, the World Bank stressed on the difficult reforms in the government institutions including the energy sector besides reducing the losses of NHA, PIA, steel mills. The World Bank said that reforms in the energy sector as well as pension and civil service are also indispensable. According to the report, the debt ratio is likely to come down to 72.3 percent from 73.1 percent in the next financial year, keeping the primary deficit under control will be most important for financial stability. According to the World Bank, the fiscal deficit is expected to be 7.4 percent of GDP in fiscal year 2025 and 6.6 percent of GDP in fiscal year 2026. The World Bank predicts a decrease in inflation in Pakistan, saying that the average inflation rate during the current financial year 2023-24 is likely to be 26 percent, while the World Bank has predicted that the average inflation rate will further decrease to 15 percent in the next fiscal year. is predicted to remain. The World Bank said in the report that the inflation rate is likely to be 11.5% in the fiscal year 2026.
