Pakistan’s economic growth is expected to be 2 percent this year, IMF report

According to the IMF, Pakistan’s economic growth this year is likely to be 2 percent, and next fiscal year, Pakistan’s growth rate is expected to increase to 3.5 percent.

According to the International Monetary Fund (IMF) report, average inflation in Pakistan is expected to be 24.8 percent this year and 12.7 percent next year.

According to the IMF, unemployment is expected to reach 8% this year and 7.5% next year, the fiscal deficit is expected to be 7.5% this year and 7.4% of GDP next year.

Pakistan’s current account deficit this year will be limited to minus zero point 8 percent of GDP, next year Pakistan’s current account deficit will be reduced to minus one point 2 percent.

The report further states that due to the IMF program, Pakistan’s economy has improved.

The International Monetary Fund has emphasized in its report that Pakistan must strictly implement the fiscal targets, the signs of Pakistan’s economic stability are strong.

According to the report, the completion of the second and final economic assessment is the result of the efforts of the Pakistani authorities.

On the other hand, some members of the IMF mission have reached Pakistan for the first phase of talks on the next loan program from Pakistan.

The IMF-led mission is likely to reach Pakistan on the night of May 16.

Sources say the support team will get data from various departments, and the finance ministry will also work on the budget with officials.