ISLAMABAD - World Bank has warned that the country’s reserves will be severely affected if current account deficit continued to haunt the economy. The report titled “The South Asia Economic Focus Fall 2017” was released on Sunday and highlighted Pakistan’s deteriorating economy after the end of IMF programme almost one year ago.
The report warned that the concerns regarding imbalance of international reserves, current account deficit and service of external debt should be addressed as soon as possible.
Under recommendations, WB suggested revival of exports, decreasing imports, and ensuring stable remittance flow.
Pakistan could face large-scale macroeconomic deterioration during 2018 general elections and the amount of debt will reach high level.