Pakistan to record highest growth rate in nine years: WB report

ISLAMABAD (APP) – Pakistan’s Gross Domestic Product growth in Fiscal Year 2017 is expected to climb to 5.2 percent—the highest in nine years—and the growth rate will continue to accelerate, reaching 5.5 percent in FY18 and 5.8 percent in FY19.

Released twice a year, the Pakistan Development Update sets out recent developments across the economy and identifies risks and opportunities in the near-term future before focusing on a handful of key development challenges.

The report was launched in Lahore on Saturday in collaboration with Lahore School of Economics, accoeding to a press release issued by the Bank here.

Pakistan’s growth will continue to benefit from growing consumer and investor confidence in the first half of FY17, following the successful efforts to restore macroeconomic stability during the last 4 years.

The report highlights that more recently, weakening trade and fiscal balances point toward the need to continue with the reform efforts to consolidate the hard-won stability.

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