• Tuesday, September 17, 2019

World Bank revises Pakistan's growth rate upward

Discussion in 'Pakistan Economy' started by Saifullah Sani, Jan 11, 2017.

  1. Saifullah Sani

    Saifullah Sani SENIOR MEMBER

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    World Bank has revised Pakistan's growth rate upward to 5.2 per cent for fiscal year 2017 and 5.5 per cent for 2018.
    The bank previously estimated growth in Gross Domestic Product (GDP) of Pakistan 5 per cent and 5.4 per cent respectively, a private news channel reported.
    The report “Global Economic Prospects; weak investment in uncertain times”, states that the uptake in activity was spurred by a combination of low commodity prices, rising infrastructure spending, and reforms that lifted domestic demand and improved the business climate.
    In Pakistan, growth is forecast to accelerate from 5.5 per cent in fiscal year 2018 to 5.8 per cent a year in fiscal year 2019-20, reflecting improvements in agriculture, infrastructure, energy, and external demand.
    The report further mentioned the successful conclusion of Special Drawing Rights (SDR) 4.393 billion International Monetary Fund's Extended Fund Facility (EFF) programme, aimed at supporting reforms and reducing fiscal and external sector vulnerabilities, lifted consumer and investor confidence.
    The China-Pakistan Economic Corridor (CPEC) project will increase investment in the medium-term, and alleviate transportation bottlenecks and electricity shortages.
    http://www.dawn.com/news/1307777/world-bank-revises-pakistans-growth-rate-upward
     
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  2. Hassan Guy

    Hassan Guy SENIOR MEMBER

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    Good.
     
  3. Talwar e Pakistan

    Talwar e Pakistan SENIOR MEMBER

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    This is the 10th time they've done this.... mashallah nonetheless.
     
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  4. Mrc

    Mrc ELITE MEMBER

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    it should be 5.5 this year and above 6 next....

    since no body pays actual due tax, real growth is already above 6
     
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  5. Zaki

    Zaki MODERATOR

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    Well it was bound to happen. It is habit of IMF and WB to post least optimistic growth rate forecast and since last 3 years they had to repeatedly revise the forecast upwards. Whilst the WB always had optimistic outlook towards Pakistan's economy but the IMF has been more cautious in projecting any new direction.

    Pakistan is probabaly the only nation on earth whose forecast in dollars is not being projected by IMF on their website as it can vary so much due to various factors.

    Whilst the forecast in rupee value is present on IMF website it was based on facts true in 2013-14 and based on historical data of last decade or so... and soon they will have to revise the gdp upwards based on present circumstances. We are likely to consistently grow beyond 6% by 2019 and onward with 7.5% in sight backed by CPEC related projects.

    If only the energy crisis were resolved of course
     
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  6. Hassan Guy

    Hassan Guy SENIOR MEMBER

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    Soon.
     
  7. Imran Khan

    Imran Khan PDF VETERAN

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    no matter how bad is this gov still its 1000 times better then zardari dark ages
     
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  8. I S I

    I S I SENIOR MEMBER

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    Thank You Imran Niazi.
     
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  9. Muhammad Omar

    Muhammad Omar ELITE MEMBER

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    Almost same what Economist said...



    Pakistan_is_the_world’s_fastest-growing_Muslim_economy_2017-1280x846.png
     
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  10. Blue Marlin

    Blue Marlin SENIOR MEMBER

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    what is pakistan's estimated growth rate given by the government for 2017-18?
    and what is it currently at?
     
  11. deckingraj

    deckingraj SENIOR MEMBER

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    Now that's a good news...not sure why pakistani friends are so negative about NS...at the end of the day if economy is improving under him than he should get the credit for it...the way he gets flak for wrongdoings....no??
     
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  12. Zaki

    Zaki MODERATOR

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    Around 5.8%
     
  13. Blue Marlin

    Blue Marlin SENIOR MEMBER

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    what is it currently at? [this fiscal year] and the previous year?
     
  14. I S I

    I S I SENIOR MEMBER

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    Nope. All credits goes to Kajriwal 2.0 aka Imran Khan.
     
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  15. deckingraj

    deckingraj SENIOR MEMBER

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    :) .... that is the sad reality we live in...facts be countered by facts is now seems like a long forgotten motto...
     
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