• About
  • Advertise
  • Contact
Saturday, August 20, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk
Home Business

IMF Records 1.5pc Growth for Pakistan

byRaiymah Javed Rana
April 7, 2021
in Business, Economy, Finance, Main
Reading Time: 2 mins read
0
IMF Records 1.5pc Growth for Pakistan
87
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

During the current fiscal year, the International Monetary Fund (IMF) forecast a subdued economic growth rate of 1.5 percent for Pakistan, coupled with a higher rate of inflation and rising unemployment, on Tuesday.

The Washington-based lending agency has projected an 8.7pc average rate of inflation, current account deficit at 1.5pc of GDP, and unemployment rising by 0.5pc to 5pc during the current fiscal year, showed the World Economic Outlook (WEO) 2021 report. This is in sharp contrast with targets set by the government for the current year at 2.1pc for GDP growth rate, 6.5pc rate of inflation, and 1.6pc for current account deficit.

RelatedPosts

Saudi Arabia’s TAWAL to invest $80 Million Annually for development of telecom sector in Pakistan

Weekly inflation reaching a records, rises to 42.3pc

Pakistan to get $4 billion from Saudi Arabia, UAE, Qatar to shore up reserves

Furthermore, as per the WEO report, the multi-speed recoveries are commenced in all regions and across income groups, linked to stark differences in the pace of vaccine rollout, the extent of economic policy support, and structural factors such as reliance on tourism. Among the urban economies, the United States is expected to surpass its pre-Covid GDP level this year, while many others in the group will return to their pre-Covid levels only in 2022. Similarly, among emerging markets and developing economies, China has already returned to pre-Covid GDP in 2020, but many others are not expected to do so until well into 2023.

The contraction of activity in 2020 was unprecedented in living memory in its speed and synchronized nature. But it could have been a lot worse. Although difficult to pin down precisely, IMF staff estimates suggest that the contraction could have been three times as large if not for extraordinary policy support.

Tags: BusinessEconomic Growth of PakistanFinanceIMFInternational Monetory FundWEOWorld Economic Outlook
Raiymah Javed Rana

Raiymah Javed Rana

Related Posts

Saudi Arabia’s TAWAL to invest $80 Million Annually for development of telecom sector in Pakistan

Saudi Arabia’s TAWAL to invest $80 Million Annually for development of telecom sector in Pakistan

Leading Saudi infrastructure provider TAWAL Telecom is prepared to launch operations in Pakistan with an annual investment target of $70-80...

Weekly inflation reaching a records, rises to 42.3pc

Weekly inflation reaching a records, rises to 42.3pc

According to data released by the Pakistan Bureau of Statistics (PBS) on Friday, inflation increased significantly in the week that...

Next Post
Tax Payment to be Rationalised Khyber PakhtunKhwa

Tax Payment to be Rationalised Khyber PakhtunKhwa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Pilots from an Ethiopian Airline Fall Asleep Mid-Flight, Miss Landing by 25 Minutes

Pilots from an Ethiopian Airline Fall Asleep Mid-Flight, Miss Landing by 25 Minutes

Queen of Pop Nazia Hassan lights up Times Square

Queen of Pop Nazia Hassan lights up Times Square

World’s Most Followed TikToker Khaby Lame is now an Italian Citizen

World’s Most Followed TikToker Khaby Lame is now an Italian Citizen

Saudi Arabia’s TAWAL to invest $80 Million Annually for development of telecom sector in Pakistan

Saudi Arabia’s TAWAL to invest $80 Million Annually for development of telecom sector in Pakistan

CAA Faisalabad returns bag having Rs2 million valuables to lady air traveller 

CAA Faisalabad returns bag having Rs2 million valuables to lady air traveller 

Weekly inflation reaching a records, rises to 42.3pc

Weekly inflation reaching a records, rises to 42.3pc

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In