According to the World Bank, there is no immediate prospect of economic growth in Pakistan, but the volume of loans will remain high and the growth rate will remain low.
In its annual South Asia Economic Focus report released on Tuesday, the World Bank said Pakistan’s debt graph would remain high, with Prime Minister Imran Khan promising to reduce debt by doubling tax revenues. What was
Despite replacing five FBR chairmen and three finance ministers, they have failed to achieve these two goals. The bank described Pakistan’s economic recovery as “critical” and predicted an increase in poverty. The report comes a day after Prime Minister Imran Khan removed his second finance minister, Dr Abdul Hafeez Sheikh.
The World Bank has forecast only 2% economic growth for the next fiscal year, half of the government’s target for the fourth year in a row.
According to the report, financial year 21. By 2020, the average rate will be 2.2 percent, 23. Growth is expected to pick up in 2022, largely due to private consumption. The Bank of Pakistan expects inflation to remain at 9% for the current financial year but will decline to 7% in the next financial year. Will be