ADB forecast about Pakistan economy and expected inflation in FY2021

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ADB forecast about Pakistan economy and expected inflation in FY2021

The Asian Development Bank (ADB) has forecast that Pakistan’s economic growth rate will improve from negative 0.4% to 2%.

A report released by the Asian Development Bank (ADB) said that the government of Pakistan had given a relief package of Rs. 1240 billion to boost economic activities affected by the Coronavirus pandemic.

The government package is expected to improve economic activity, the report said.

According to the report, inflation in Pakistan is expected to be 7.5% during 2021.

Despite locust heart attacks, agricultural output remained at 2.7 per cent, while Pakistan’s current account deficit narrowed due to a drop in imports.

Earlier in April, the ADB had projected Pakistan’s economic growth at 2.6 per cent this year, compared to 3.6 per cent for next year.

According to the ADB, Pakistan’s economy has been badly affected by the Coronavirus. After the decline in Corona, there is a possibility of economic recovery in Pakistan.