Abb Takk News

IMF Forecasts Pakistan’s GDP To Grow at 4pc in FY22

ISLAMABAD: The International Monetary Fund (IMF) Tuesday projected Pakistan’s real Gross Domestic Product (GDP) to grow by 4.0% in current fiscal year (2021-22).

In its recent report “World Economic Outlook October 2021” released today, the IMF also endorsed the Pakistan’s provisional figures of GDP growth rate of 3.9% during the previous fiscal year 2020-21.

The World Bank in its recent report last week however, projected 3.4% GDP growth for the year 2021-22 which was rejected by Pakistan in a statement released by the ministry of finance according to which the forecast was based on unrealistic assessment and that the GDP growth rate for fiscal year 2021-22 would go up close to 5%.

According to the report, the unemployment rate in Pakistan would also decline from current 5.0% to 4.8% in the current fiscal year. In a recent report, the World Bank however projected Pakistan’s GDP growth rate at 3.5%

The report projected that the country’s inflation rate would ease from 8.9% during the year 2020-21 to 8.5% by end of current fiscal year 2021-22.