Another setback for Pakistan on the economic side
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The International Monetary Fund (IMF) has unveiled the World Economic Outlook and predicted Pakistan’s growth rate at 3.5%.
The IMF’s World Economic Outlook report said that unemployment and inflation will further rise in Pakistan while the economic growth target would not be achieved.
The report stated that the unemployment rate would increase as compared to the previous fiscal year from 6.2% to 6.4%. The global institution predicted 3.5% growth rate in the current fiscal year, inflation 19.9% and current account deficit up to 2.5%.
Earlier in the day, Finance Minister Ishaq Dar link along with a delegation left for the United States (US) to negotiate with international lenders.
As per details, the delegation led by Finance Minister Ishaq Dar will hold negotiations with the International Monetary Fund (IMF) and the World Bank (WB).
Pakistan has been demanding of the international lenders for new terms for Pakistan amid devastating floods in the country.