ADB places Pakistan growth rate at 2 percent in 2021

On Wednesday, The Asian Development Bank (ADB) forecast Pakistan’s GDP would grow by two per cent during the current year subject to successful vaccine rollout and implementation of stabilisation measures. 

“Assuming successful vaccine rollout and the implementation of economic reform under a stabilisation programme with the International Monetary Fund (IMF), GDP is expected to grow by 4pc in FY2022 as consumption strengthens and investor confidence improves,” the ADB said in its flagship Asian Development Outlook (ADO) 2021. 

However, the economic outlook is subject to downside risks, depending on persistent containment measures and success in achieving the vaccination target of 70pc of the eligible population by the end of December 2021. 

The ADB’s forecast is closer to 1.3pc growth forecast by the World Bank and 1.5pc by the IMF when compared to 2.9pc and 3pc growth estimates by the Ministry of Finance and State Bank of Pakistan, respectively.