Asian Development Bank depicts positive outlook for Pakistan economy in 2016
ISLAMABAD: Asian Development Bank expressed its satisfaction over the economic condition of Pakistan as Pakistan economy will further improve in the fiscal year of 2016 due to concrete reforms and effective measures of government.
As per details, Asian Development Bank issued a report here at Thursday stating that Pakistan economic progress will continue in fiscal year 2016 while Pakistan micro economic condition has improved due to reduction in prices of petroleum products.
The report further stated that Pakistan's foreign exchange reserves have increased with the reforms and stabilized measures while inflation rate also reduced which is a good sign for Pakistan economy.
ADB report further added that Pakistan, China ongoing investment on CPEC project and other measures for regional cooperation would be helpful in development activities in Pakistan while trade and investment would further enhance with stable economic reforms and security situation.
Pakistan economic growth rate will remain at 4.5% during current fiscal year which is being expected to extend 4.8% in next fiscal year.