Washington: The International Monetary Fund (IMF) reported its WEO, where actual growth for Pakistan in the current fiscal year is estimated at 3 percent and 4 percent for the subsequent year.
Looking at the global growth rates, the report points out that India is poised to continue with healthy economic growth of 6.5 percent this fiscal and the next. Gross domestic product is expected to touch 2.7% this fiscal year and reduce to 2.1% next year for the United States.
After stabilizing gradually, the growth rates in China’s economy are predicted to be 4.6% this fiscal year and 4.5% in the next. At the same time, the growth rate of the United Kingdom is predicted to be rather low—1.6% for the current fiscal year, with a gradual decrease to 1.5% in the following fiscal year.
Earlier, the IMF assumed Pakistan’s growth rate to be 3.2%, which is slightly higher than this forecast. The changes in the numbers are due to difficulties in the global and domestic environment for business.