Pakistan’s GDP growth to shrink to 2.7 pc in FY 2019-20 : World Bank.


The World Bank in its latest report has projected that the Pakistan’s economic growth to go down by 3.4 per cent in the fiscal year 2018-19 and will further decelerate to 2.7 per cent in 2019-2020 as fiscal and monetary policies are tightened to address macroeconomic imbalances.
The latest edition "South Asia Economic Focus, Exports Wanted”, the World Bank cited macroeconomic imbalances, reflected in large fiscal and current account deficits, as the reason behind the projected slowdown in the GDP growth.
The report stated  In Pakistan, external account pressure reduced international reserves to USD 6.6 billion (1.3 months of goods and services import coverage) by mid-January 2019. With short-term financing from the Kingdom of Saudi Arabia, the United Arab Emirates and China, international reserves increased to USD 10.5 billion (2.0 months of goods and services import coverage) at the end of March. Meanwhile, the government continues to negotiate a support package with the International Monetary Fund, The News International reported.


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