Moody's unveil future economic report on Pakistan
ISLAMABAD - International credit rating agency Moody's has appreciated the robust longer-term economic prospects of Pakistan.
In its annual credit analysis report on Pakistan released on Thursday, the agency notes visible improvements in the country's power supply, infrastructure and national security that have raised the growth prospects and hence business confidence.
Moody's report specially mentions China Pakistan Economic Corridor and the resultant infrastructure investments and the significant increase in power supply that will address some of Pakistan's long-term economic constraints and strengthen its growth potential.
It adds that further institutional reforms planned by the new government will also bolster institutional strength, which has increased in recent years with greater central bank autonomy and monetary policy effectiveness.
The report warns that the reforms will be challenging for any government to navigate because of the large bureaucracy and complex federal-provincial politics and administrative arrangements.