The report has projected Pakistan’s economy to contract by 1.5% this fiscal year – a downgrade of nearly 4% from its January 2020 report. Before deadly contagious disease hit the world, the IMF had projected Pakistan’s economy to post moderate growth of 2.4%. For the next fiscal year, the IMF has projected that Pakistan’s economy may recover and post a growth rate of 2%. It will be for the first time in 68 years that Pakistan’s economy will contract instead of posting any growth. The World Economic Outlook report expects a global growth in 2020 to fall to 3%.

Source: The Express Tribune April 15, 2020 04:18 UTC