Pakistan’s economy is making a strong comeback despite COVID-19: IMF

The Government of Pakistan has set its coronavirus vaccination target for the end of 2021 to 70 million people, and fully vaccinated approximately 3 million people and partially vaccinated around 13 million people by 1 Jul 2021, as noted by the International Monetary Fund (IMF).

The IMF stated in its updated report ‘Policy Actions Taken by Countries’ that contains a review of the various steps that Pakistan has taken to deal with the pandemic that it seems to be under control with the new daily cases falling below 1,000 and the positivity rate falling below 2.5 percent.

Economic activity worsened notably in the fiscal year (FY) 2020 with a negative growth of 0.5 percent, but it rebounded strongly in FY 2021 with growth preliminary estimated at 3.9 percent.

The report revealed that most of the remaining restrictions are being lifted in July 2021 and that the number of inbound flights has increased. Meanwhile, vaccination certification is being made mandatory for the usage of indoor services and entry to events.