ISLAMABAD – The United Nations has said it expects the Pakistani economy torecover slightly from 2021 onwards due to increased government revenues andimplementation of financial reforms.
In addition to forecast about the Pakistani economy, the report alsodetailed the economic outlooks of other countries in South Asia, likeIndia, China, and Bangladesh, among others.
According to UN World Economic Situation and Prospects (WESP) reportlink,the Indian economy is expected to grow by 5.7 per cent in the currentfiscal year and is expected it to rise to 6.6 per cent in the next.
Bangladesh is forecast to grow by 8.1 per cent this fiscal year and 7.8 inthe next. The report adds that only China has a higher growth rate thanIndia among the world’s large economies.
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Highlighting Pakistan, the report claimed that Islamabad has beenstruggling with a balance-of-payments crisis and the burden of high publicdebt, which has led to fiscal tightening and an IMF loan.
“High inflation and security concerns have hurt domestic demand and privateinvestment, and the government’s ability to address the slowdown has beenseverely curtailed by the fiscal tightening,” stated the report.
