The Asian Development Outlook – a biannual flagship publication – shaved only 0.2% off Pakistan’s economic growth on account of adverse impact of the coronavirus. About four months ago, the ADB had predicted Pakistan’s economy would grow by 2.8%. At a growth rate of 2.6%, Pakistan will be the sixth slowest growing economy in South Asia, trailed by Sri Lanka and the Maldives only. The ADB has placed significant emphasis on strengthening Pakistan’s weaker social protection to offset the impact of the pandemic. Spending on social development had not kept up with the growing need and the Human Development Report 2019 ranked Pakistan at 152 among 189 economies, said the ADB.

Source: The Express Tribune April 04, 2020 03:45 UTC