Fitch’s positive forecast: Pakistan’s growth rate expected to reach 3.5 percent by 2027

Islamabad: International rating agency Fitch, while releasing a latest report on Pakistan’s economy, has said that economic pressures in the country have clearly reduced and business conditions are gradually improving. According to the report, the real growth rate will improve further in the next few years and is expected to reach 3.5 percent by 2027.

According to Fitch, Pakistan’s economic recovery is coming after a difficult period and high inflation, but the banking sector has maintained its performance even in these circumstances. The report said that domestic banks can now take advantage of new opportunities to increase business volume.

The global rating agency also noted that Pakistani banks have a high investment in government securities, while the non-performing loan ratio has come down to 7.1% from 7.6%.

According to the report, this improvement is the result of fiscal discipline and better economic strategy, which has also stabilized the overall debt landscape.