ISLAMABAD – The economy of Pakistan has entered a growth phase, Reza Baqir,governor of the State Bank of Pakistan (SBP), has said. He added that theeconomy has recently stabilized.
*“We can say with confidence that we have put the worst behind us,”* Baqirsaid at the CEO Summit Asia 2020 as quoted by the Tribune.
*“Exports of the country grew 4.5 percent in the first half of [the]current financial year,”* according to the banker.
He noted that exports to some countries such as India, Thailand, Indonesiaand Malaysia have fallen.
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*He also noted the central bank’s input in the growth of economy andexports. He added that Pakistan’s stock market has paid “a return of up to12 percent on investments by foreign investors.”“Businesses of the countryhold a very bright future,”* Baqir said, adding that the public sectorsignificantly supported the growth of the private sector.
Baqir also said that the country’s industrial growth would get a majorboost with the development of the China-Pakistan Economic Corridor (CPEC).
