IMF downgrades Pakistan’s 2024 growth estimate to 2pc

The International Monetary Fund (IMF) has downgraded Pakistan’s growth estimate for fiscal year 2024 to two per cent, according to a report issued on Tuesday.

The Fund’s World Economic Outlook (WEO) for January said the estimate was downgraded by 0.5pc from 2.5pc in October’s outlook.

The IMF’s latest growth forecast is lower than the government’s 3.5pc GDP growth target for the current year

Meanwhile, the IMF raised its 2024 global growth forecast to 3.1pc, citing unexpected resilience in major advanced and emerging market economies around the world, including the United States and China.