ISLAMABAD: Pakistan’s exports to five central Asian countries (CACs) witnessed a growth of 21.17 per cent during the first eight months of the current fiscal year over the corresponding period last year.
In its ‘Asian Development Outlook’ for April 2024, the Manila-based lending institution reported that potential supply chain interruptions due to increased conflict in the Middle East could negatively affect the economy.
ADB emphasized the importance of funds from multilateral and bilateral partners for Pakistan, given its significant external financing needs and limited financial reserves. It noted that these critical financial inflows might be affected by failures in policy enforcement.
The ADB also pointed out that support from the International Monetary Fund (IMF) for a medium-term reform plan would significantly enhance market confidence and stimulate access to more affordable financing from additional sources.
The report forecasted a 2.8 percent economic growth rate for Pakistan in the fiscal year 2025, attributed to heightened confidence, reduced economic imbalances, substantial progress in structural reforms, increased political stability, and better external conditions.
