The International Monetary Fund (IMF) has projected a further rise in inflation and unemployment in Pakistan during the current financial year, saying that Pakistan’s GDP growth rate will remain at 1.5 percent.
The IMF estimate of a growth rate of 1.5% is contrary to the revised growth forecast of 3% made by the State Bank of Pakistan a few days ago. World Bank estimate a growth rate of 1.3% growth this year for Pakistan.
According to the 2021 World Economic Outlook report, the IMF forecast inflation of 8.7 percent, a current account deficit at 1.5 per cent of GDP and unemployment of 5 per cent this fiscal year.
This is in stark contrast to the objectives set by the government, which has set GDP growth of 2.1%, 6.5% inflation, and 1.6% current account deficit for the current financial year.
The IMF predicts that economic growth will rebound to 4% of GDP next year and 5% by 2026.
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