AVN 65.45 Decreased By ▼ -0.72 (-1.09%)
BAFL 29.99 Decreased By ▼ -0.26 (-0.86%)
BOP 4.67 Decreased By ▼ -0.06 (-1.27%)
CNERGY 3.89 Decreased By ▼ -0.12 (-2.99%)
DFML 13.58 Decreased By ▼ -0.52 (-3.69%)
DGKC 42.20 Decreased By ▼ -1.49 (-3.41%)
EPCL 45.81 Increased By ▲ 1.16 (2.6%)
FCCL 11.58 Decreased By ▼ -0.25 (-2.11%)
FFL 5.18 Increased By ▲ 0.21 (4.23%)
FLYNG 5.89 Decreased By ▼ -0.21 (-3.44%)
GGL 10.05 Decreased By ▼ -0.33 (-3.18%)
HUBC 63.00 Increased By ▲ 0.70 (1.12%)
HUMNL 5.83 Decreased By ▼ -0.02 (-0.34%)
KAPCO 27.73 Increased By ▲ 0.18 (0.65%)
KEL 2.17 Decreased By ▼ -0.04 (-1.81%)
LOTCHEM 25.86 Decreased By ▼ -0.74 (-2.78%)
MLCF 21.72 Decreased By ▼ -0.80 (-3.55%)
NETSOL 84.75 Decreased By ▼ -1.45 (-1.68%)
OGDC 85.30 Decreased By ▼ -0.97 (-1.12%)
PAEL 10.99 Decreased By ▼ -0.28 (-2.48%)
PIBTL 4.22 Decreased By ▼ -0.06 (-1.4%)
PPL 78.00 Decreased By ▼ -2.08 (-2.6%)
PRL 13.60 Decreased By ▼ -0.06 (-0.44%)
SILK 0.90 No Change ▼ 0.00 (0%)
SNGP 40.60 Decreased By ▼ -1.15 (-2.75%)
TELE 6.02 Decreased By ▼ -0.19 (-3.06%)
TPLP 15.92 Decreased By ▼ -0.35 (-2.15%)
TRG 110.50 Decreased By ▼ -2.05 (-1.82%)
UNITY 14.08 Decreased By ▼ -0.27 (-1.88%)
WTL 1.16 Decreased By ▼ -0.04 (-3.33%)
BR100 4,036 Decreased By -38.3 (-0.94%)
BR30 14,361 Decreased By -164.4 (-1.13%)
KSE100 40,508 Decreased By -339 (-0.83%)
KSE30 15,113 Decreased By -98.1 (-0.65%)
Follow us

ISLAMABAD: The International Monetary Fund (IMF) has revised upward the GDP growth projection for Pakistan to 3.9 percent for 2021 from its earlier projection of 1.5 percent.

The Fund, however, maintained GDP growth for 2022 at four percent.

The Fund in its latest report, “World Economic Outlook, Fault Lines Widen in the Global Recovery” released on Tuesday, stated that projections are revised up for the Middle East and Central Asia due to robust activity in some countries (such as Morocco and Pakistan), partially offset by downgrades of some others.

The Fund in its report “World Economic Outlook” released in April 2021 had projected GDP growth for Pakistan at 1.5 percent and four percent for 2022.

IMF says welcomes ‘strong engagement’ with Pakistan

The report noted that economic prospects have diverged further across countries since the April 2021 World Economic Outlook (WEO) forecast. Vaccine access has emerged as the principal fault line along which the global recovery splits into two blocs: those that can look forward to further normalisation of activity later this year (almost all advanced economies) and those that will still face resurgent infections and rising COVID death tolls. The recovery, however, is not assured even in countries where infections are currently very low, so long as the virus circulates elsewhere.

The global economy is projected to grow 6.0 percent in 2021 and 4.9 percent in 2022.

The 2021 global forecast is unchanged from the April 2021 WEO, but with offsetting revisions. Prospects for emerging market and developing economies have been marked down for 2021, especially for Emerging Asia. By contrast, the forecast for advanced economies is revised up.

IMF urges countries to shift from economic rescue to reforms

These revisions reflect pandemic developments and changes in policy support.

The 0.5 percentage-point upgrade for 2022 derives largely from the forecast upgrade for advanced economies, particularly the United States, reflecting the anticipated legislation of additional fiscal support in the second half of 2021 and improved health metrics more broadly across the group, it added.

Copyright Business Recorder, 2021

Comments

Comments are closed.

IMF revises Pakistan's GDP growth projection upward to 3.9pc

PM Shehbaz hopeful of IMF programme revival ‘this month’

Islamabad court sends Fawad Chaudhry to Adiala jail on 14-day judicial remand

India’s Adani slammed by $48bn stock rout, clouding record share sale

Signing of deal in March: Refineries to get Russian oil by April-end

Premature termination of PPA of Hubco power plant recommended

Govt may exempt solar equipment from all taxes

Canada names journalist Amira Elghawaby as first anti-Islamophobia advisor

India expects more clashes with Chinese troops in Himalayas

To be presented in first week of June: FY24 budget call circular issued to ministries, divisions

Power surge crashes grid, plunging millions into darkness