The world bank declares that the economic condition of Pakistan lacks color and vibrance. In the current fiscal year, the country’s economic growth was witnessed to be 0.5%. The point five percent of economic growth is too low than what the government kept as its target. The PTI government had determined a target of 2.1% in this third year, however, this target seems no close to accomplishment.
The World Bank predicts no upcoming growth in Pakistan’s economic outlook. Presumably, it seems that for two more years the country’s economy would remain weak. This is one of the consequences that the nation has to deal with due to coronavirus. In the biannual report that World Bank released on Thursday, it declared that there has to be an increment in the public debt, current account, and budget deficit in Pakistan.
Hans Timmer, the Economist chief of the World Bank, declares that the news doesn’t sound good. In his voice conference, he stated that the economic outlook of South Asia is in dreadful condition. Once the lockdown is pulled off, the domestic activity of the country for the sake of the economy will hopefully get restarted. It is expected that Pakistan’s economy will recover and get rekindled again.