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IMF projects Pakistan’s growth rate at 1.5pc for current financial year

ISLAMABAD – The International Monetary Fund (IMF) has projected Pakistan’s GDP growth rate at 1.5 per cent in the ongoing financial year. 

The growth rate would increase to 4 per cent in next fiscal year. Pakistan’s growth had contracted by 0.4 per cent in the year 2019-20, the IMF has stated in its report World Economic Outlook. 

The IMF is seeing a subdued recovery in Pakistan with growth expected at 1.5% this year, driven by industry & construction. The path of the pandemic and the ability of the authorities to provide policy support will be important for that outcome. 

The IMF has estimated inflation rate in Pakistan at 8.7 per cent in ongoing fiscal year as compared to 10.7 per cent in previous year. The Fund has estimated…

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