The World Bank sees an “anaemic” economic outlook of Pakistan, with growth rate of just 0.5% in the current fiscal year. The half-a-percentage economic growth rate is far below the official target of 2.1% that the PTI government had set for its third year in power. According to the World Bank, the economic growth in Pakistan is projected to remain below potential, at 0.5% for FY-21, compared to over 4% annual average in three years to fiscal year 2018-19. The economic growth is projected to remain below potential, averaging 1.3% during next two years, the report said. Overall, the WB forecasts a sharper than expected economic slump across the region, with regional growth expected to contract by 7.7% in 2020, after topping 6% annually in the past five years.

Source: The Express Tribune October 08, 2020 03:56 UTC