ISLAMABAD – Fitch Solutions has further downgraded Pakistan economic growthfor the Fiscal Year 2019.
Fitch Solutions, a US-based global research house, has revised downPakistan’s economic growth to 2.7pc for the next fiscal year 2019-20 from apreviously quoted estimate of 4pc, a private media house reportedlinkonThursday.
Fitch Solutions, an arm of Fitch Rating Agency, expects that Pakistan willadopt a tight monetary and fiscal policy stance based on a condition thatthe country is entering into an International Monetary Fund (IMF) programme.
Consequently, this would curtail the economic growth, determined Fitch,thus leading the state to revise the GDP targets for the fiscal years2018-19 and 2019-20 to 3.2pc and 2.7pc, respectively.
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That being said, experts believe that investment into the China-PakistanEconomic Corridor (CPEC) will continue to provide some support to theeconomy.
