Setbacks for Pakistani economy from the IMF
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The International Monetary Fund (IMF) has projected Pakistan’s GDP growth rate at 4 percent for 2022 against 5.6 percent in 2021 and projected a rise in inflation from 8.9 percent in 2021 to 11.2 percent in 2022.
IMF in its latest report “World Economic Outlook (WEO), War sets back the global recovery” has projected GDP growth rate at 4 percent in 2022 against 5.6 percent in 2021 and projected at 4.2 percent for 2023.
The Fund has also projected an increase in inflation from 8.9 percent in 2021 to 11.2 percent in 2022 which is projected to decline to 10.5 percent in 2023.
According to the report consumer prices has projected at end of the period which is elaborated as (monthly year-over-year changes and, for several countries, on a quarterly basis) for 2022 at 12.7 percent and 8.2 percent in 2023.
The current account balance is projected at -5.3 percent of GDP for 2022 against -0.6 percent in 2021 and -4.1 percent is projected for 2023.
IMF has projected unemployment at 7 percent for 2022 against 7.4 percent in 2021 and projected at 6.7 percent for 2023. link
