The International Monetary Fund (IMF) has projected Pakistan’s GDP growthrate at 1.5 percent for the current fiscal year 2020-21, according to theEconomic Outlook for 2021 update released by the IMF.

This projection is in comparison with negative 0.4 percent for the previousfiscal year’s GDP growth.

However, the government has envisaged a GDP growth rate target of 2.1percent for the current fiscal 2020-21.

The government is also expecting the economy to recover in the aftermath ofCOVID-related economic pressures, which will help achieve the growthtrajectory.——————————

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Earlier, the IMF had projected the GDP growth rate of positive 1.9 percentfor Pakistan. However, after the global outbreak of Coronavirus in the lastfiscal year, the GDP growth had tumbled down to a clock at negative 0.4percent for the fiscal year ending June 30, 2020.

The IMF had projected the GDP growth rate at 1 percent, but now it revisedupward to 1.5 percent for the current fiscal year. The IMF has projectedthat Pakistan’s growth rate would be 4 percent of GDP in the next fiscalyear 2021-22, according to the update.

The IMF’s World Economic Outlook for 2021 shows that the global economy isprojected to grow at 5.5 percent, emerging economies at 8.3 percent, andAfrica at 3.2 percent. India is projected to grow at 11.5 percent, China8.1 percent, Malaysia 7 percent, Turkey 6 percent, France 5.5 percent, theUSA 5.1 percent, Mexico 4.3 percent, and Nigeria 1.5 percent.