IMF predicts 2.5% growth rate in Pakistan this year

The International Monetary Fund (IMF) on Tuesday predicted a 2.5% growth rate in Pakistan this year.

The IMF has unveiled its latest World Economic Outlook report, shedding light on key economic indicators of Pakistan.

According to the report, the inflation rate for the current fiscal year is projected to be at a significant 23.6 percent. In more positive news, the GDP growth is expected to reach 5 percent by the year 2028.

Unemployment is predicted to decrease to 8 percent this year, down from the previous fiscal year’s rate of eight and a half percent, as stated in the report.

Furthermore, the current account deficit is anticipated to remain at 1.8 percent of GDP for this year.

It’s important to note that the global economic landscape is still grappling with the ongoing impacts of the COVID-19 pandemic and the conflict in Russia and Ukraine, as highlighted in the IMF’s report.

These factors continue to influence economic conditions worldwide.