• Friday, July 19, 2019

Featured IMF cuts Middle East’s growth forecast to 2.6%

Discussion in 'Pakistan Economy' started by Devil Soul, Jul 10, 2015.

Thread Status:
Not open for further replies.
  1. Devil Soul

    Devil Soul ELITE MEMBER

    Messages:
    22,458
    Joined:
    Jun 28, 2010
    Ratings:
    +46 / 27,829 / -1
    Country:
    Pakistan
    Location:
    Pakistan
    IMF cuts Pakistan’s growth forecast to 2.6%
    By Reuters / Web Desk
    Published: July 9, 2015

    WASHINGTON: The International Monetary Fund on Thursday revised its forecast for Pakistan’s economic growth down to 2.6 per cent for 2015.

    The IMF in its World Economic Outlook report for July, it has sliced Pakistan’s expected growth rate by 0.3 per cent to 2.6 per cent for 2015 as compared to 2.9 per cent projected in April this year.

    However, the IMF’s forecast for Pakistan’s growth in 2016 remained unchanged at 3.8 per cent.

    On the global front, it trimmed its forecast for global economic growth for this year to take into account the impact of recent weakness in the United States.

    But the global financial institution said growth prospects for next year remain undimmed, despite Greece’s debt crisis and recent volatility in Chinese financial markets.

    In an update to its World Economic Outlook report, the IMF said the global economy should expand 3.3 per cent this year, 0.2 percentage point below what it predicted in April. Growth should speed up to 3.8 per cent next year, it said, unchanged from earlier forecasts.

    The IMF pinned much of the blame for the lower growth forecast on the United States. The US economy contracted in the first quarter, hurt by unusually heavy snowfalls, a resurgent dollar and disruptions at West Coast ports.

    The IMF said it expected the US economy to grow 2.5 per cent this year – it lowered the US growth forecast last month from 3.1 per cent in April. The IMF also said US economic sluggishness had spilled over to Canada and Mexico.

    “(But) the unexpected weakness in North America … is likely to prove a temporary setback,” the IMF wrote in the report.

    The IMF also maintained its forecasts for a pickup in growth in the euro zone, despite Greece moving ever closer to the edge of default and an exit from the currency bloc as it races to find a last-minute third bailout.

    “Developments in Greece have, so far, not resulted in any significant contagion,” the IMF said. “Timely policy action should help manage such risks if they were to materialize.”

    In developing economies, the IMF said growth had been dampened by lower commodity prices, tighter financial conditions tied to the economic rebalancing in China and geopolitical factors.

    Chinese stock markets have tumbled by more than 30 per cent over the last month, prompting regulators to impose heavy-handed intervention to stem the rout.

    The IMF said the market crash suggests China could face greater difficulties as it tries to move from an investment-led economic growth model to one focused on domestic consumption.

    The Fund also repeated its warning that asset price shifts and financial market volatility could disrupt its predictions, though it expects the economic situation in Russia and the Middle East to calm down next year.
     
  2. [Bregs]

    [Bregs] SENIOR MEMBER

    Messages:
    6,088
    Joined:
    Aug 11, 2013
    Ratings:
    +2 / 8,148 / -0
    Country:
    India
    Location:
    India
    China growth slowing, greece crisis will impact all emerging economies so there is nothing unusual about it
     
  3. 21 Dec 2012

    21 Dec 2012 FULL MEMBER

    Messages:
    894
    Joined:
    Nov 3, 2011
    Ratings:
    +0 / 612 / -2
    2.6%? WTF
     
  4. Winchester

    Winchester SENIOR MEMBER

    Messages:
    3,537
    Joined:
    Aug 12, 2014
    Ratings:
    +6 / 5,340 / -0
    Country:
    Pakistan
    Location:
    Australia
    @SBD-3 @cb4 if these figures are to be believed then growth hovering around 2-3 %....not much better than PPP !
     
    Last edited: Jul 10, 2015
  5. Imran Khan

    Imran Khan PDF VETERAN

    Messages:
    48,492
    Joined:
    Oct 18, 2007
    Ratings:
    +40 / 88,221 / -39
    Country:
    Pakistan
    Location:
    Pakistan
    good gooing pakistan

    [​IMG]
     
  6. Zaki

    Zaki MODERATOR

    Messages:
    19,754
    Joined:
    Oct 20, 2008
    Ratings:
    +18 / 22,753 / -0
    Country:
    Pakistan
    Location:
    United Kingdom
    no idea where this figure is coming from... Not sure about the credentials of author writing this article

    -------------

    The only latest report published by IMF I am aware of is from last week

    https://www.imf.org/external/pubs/ft/scr/2015/cr15162.pdf

    Talks about growth rate of 4.3 - 4.5%
     
  7. farhan_9909

    farhan_9909 PROFESSIONAL

    Messages:
    8,971
    Joined:
    Oct 21, 2009
    Ratings:
    +14 / 11,731 / -5
    Country:
    Pakistan
    Location:
    United Arab Emirates
  8. Jazzbot

    Jazzbot ELITE MEMBER

    Messages:
    8,708
    Joined:
    Apr 27, 2010
    Ratings:
    +14 / 21,081 / -0
    Country:
    Pakistan
    Location:
    Pakistan
    Don't worry, Ishaq Dollar will save the day with his blunt lies and manipulated stats as usual.. :lol:
     
  9. Areesh

    Areesh ELITE MEMBER

    Messages:
    32,546
    Joined:
    Mar 30, 2010
    Ratings:
    +25 / 56,349 / -32
    Country:
    Pakistan
    Location:
    Pakistan
  10. Areesh

    Areesh ELITE MEMBER

    Messages:
    32,546
    Joined:
    Mar 30, 2010
    Ratings:
    +25 / 56,349 / -32
    Country:
    Pakistan
    Location:
    Pakistan
    Time to disband BRICS I guess. :)
     
  11. Cent4

    Cent4 FULL MEMBER

    Messages:
    694
    Joined:
    Jul 6, 2009
    Ratings:
    +0 / 476 / -0
    Country:
    Pakistan
    Location:
    United Kingdom
  12. Sneaker

    Sneaker FULL MEMBER

    Messages:
    1,867
    Joined:
    Nov 18, 2014
    Ratings:
    +0 / 1,430 / -32
    Country:
    India
    Location:
    United States
    And there was a thread running how pakistan's economy is better than india's. Now I am confused as hell. Is india's growth estimated to be lower than 2.6%?
     
  13. Areesh

    Areesh ELITE MEMBER

    Messages:
    32,546
    Joined:
    Mar 30, 2010
    Ratings:
    +25 / 56,349 / -32
    Country:
    Pakistan
    Location:
    Pakistan
    Don't know about India but as per this report we would perform better than

    1 Germany
    2 France
    3 USA
    4 Brazil
    5 Russia
    6 Canada
    7 Japan
    8 South Africa
    9 Italy
    10 United Kingdom

    We all are confused by the way!!

    Don't know. Can't understand this report.
     
  14. Sam.

    Sam. SENIOR MEMBER

    Messages:
    2,775
    Joined:
    Mar 1, 2013
    Ratings:
    +0 / 3,277 / -2
    Country:
    India
    Location:
    India
    Naw they are talking about GDP where china slowing down and recent share market crisis and USA didn't perform what they predicted to be i am sure Pakistan GDP will go down as they have good economic relation with Chinese and usa market.
     
  15. Sneaker

    Sneaker FULL MEMBER

    Messages:
    1,867
    Joined:
    Nov 18, 2014
    Ratings:
    +0 / 1,430 / -32
    Country:
    India
    Location:
    United States
    Dude, please stop comparing growth rate of trillion dollar economies with million dollar economies. Developed economies barely touch 3% growth rate. Ofcourse, China has been exception all along (it is not matured as other developed economies) but looks like it may change and conform to the trend...
     
Thread Status:
Not open for further replies.