Efforts by the IMF to steer the economy in the right direction have been successful, reports indicate. Photo: File
Islamabad: Asian Development Bank (ADB) and local institutions have expressed confidence in Pakistan’s economic performance, taking steps towards a positive direction.
According to financial reports from the Asian Development Bank, State Bank, and the Statistics Department for the current fiscal year, it has been stated that the Special Investment Facilitation Council has made efforts at a policy level to bring the economy on the right track, which have proven to be fruitful.
Reports suggest that Pakistan’s economy has been moving in the right direction for the past 9 months, with the current year showing improvement in economic conditions compared to 2023. As a result, the economy will continue to grow, with inflation expected to decrease to 15% by 2025.
According to the Pakistan Economic Outlook report, the strengthening of the Pakistani Rupee against the Dollar and the increased speed in the Stock Exchange have been observed.
The State Bank has stated in its report that there is a possibility for GDP growth to remain between 2 to 3 percent, with the agricultural sector being a key driver of growth.