Tag: gdp growth
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IMF predicts modest 3.5% growth for Pakistan amid global economic uncertainty
The International Monetary Fund (IMF) has forecasted a 3.5 per cent growth rate for Pakistan’s economy in the fiscal year 2024-25 (FY25), slightly below the government’s target of 3.6 per cent.
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UN survey forecasts modest growth for Pakistan’s GDP amid inflation projections
Pakistan is projected to experience a real GDP growth rate of 2 per cent in 2024, with a slight increase to 2.3 per cent expected in 2025, according to a United Nations economic survey. The survey, titled ‘Economic and Social Survey of Asia and the Pacific 2024: Boosting Affordable and Longer-term Financing for Governments,’ released…
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State Bank of Pakistan maintains policy rate at 22% despite inflation concerns
The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) convened today to deliberate on the prevailing economic conditions and has resolved to maintain the policy rate at 22 per cent for the fourth consecutive meeting.
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Pakistan’s economy picks up pace: GDP growth hits 2.13%
In the first quarter of the fiscal year 2023-24, Pakistan’s economy exhibited signs of recovery with a Gross Domestic Product (GDP) growth rate of 2.13 per cent, marking a significant improvement from the 0.96 per cent recorded in the same period of the previous fiscal year, according to estimates released by the Pakistan Bureau of…
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World Bank proposes tax reforms with 3% GDP growth projection for Pakistan
The World Bank has advised Pakistan to implement taxes on the agricultural and real estate sectors and merge the income thresholds for salaried and non-salaried individuals to create a progressive Personal Income Tax (PIT) system.
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Pakistan’s economy to recover, but challenges remain: World Bank
Pakistan’s economic outlook, as per the World Bank’s ‘Pakistan Development Update,’ is challenging. The report projects a gradual recovery in real GDP growth, expecting it to reach 1.7 per cent in FY24 and 2.4 per cent in FY25. However, it warns that this recovery is contingent on implementing IMF measures, securing external financing, and maintaining…
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State Bank keeps policy rate unchanged at 21%, eyes decline in inflation
The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) has made the decision to maintain the policy rate at 21 per cent for the next two months. This move is based on the committee’s anticipation that inflation will begin to decrease starting this month.
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World Bank cuts Pakistan’s GDP growth forecast from 4% to 2%
Due to the unstable economy and floods, the World Bank predicted that Pakistan’s economic growth would drop by half, falling by 4 per cent to 2 per cent, during the current fiscal year.