Macroeconomic outlook 2015: WB projects steady growth for Pakistan

ISLAMABAD: The World Bank in its recent Macroeconomic Outlook-2015 about Pakistan, has projected steady growth, recovery-cum-low inflation, supported by fiscal consolidation and improving external position for the next two years. According to the Bank’s Outlook-2015, Pakistan economic growth was projected to accelerate to 4.5 percent in FY 2016 and then further to 4.8 per cent in FY 2017 supported by strong growth in industry and services. The Bank report further said that Pakistan’s investment was expected to increase to 15.4 percent of GDP by FY 2017 on account of operationalization of China Pakistan Economic Corridor (CPEC)-related projects. The report further said that inflation was projected to stay low in view of low commodity prices, exchange rate stability and prudent fiscal policy. The World Bank’s Outlook 2015 about Pakistan further said that the current account deficit was projected to increase slightly to 1.0 percent of the GDP by FY2017 but it would remain manageable.

Published in The Express Tribune, March 12^th, 2016.