World Bank has forecast 4.5 percent growth during the current fiscal which is one percent less than 5.5 percent target forecast by the government.
In a report over Pakistan economy the report of the Bank forecast growth rate of 4.5 percent in 2016 compared to 4.2 percent in 2015. The growth of the large scale manufacturing is expected at 4-4.5 percent while that of services sector is expected toremain five percent, agriculture sector at 2.5 percent which was 2.9 percent in 2015.
The report lauds measures taken by the government for economic development and recommends more such measures.
According to WB’s Country Manager Pakistan the country needs reforms agenda and increasing tax payment ration and encouraging conducive environment for business activities and private investment crucial.
the report calls financial stability the most crucial challenge of all the challenges that Pakistan is facing.
