World Bank forecasts economic recovery in Pakistan

ISLAMABAD: The World Bank has predicted a decrease in inflation and modest economic growth in Pakistan for the next financial year, 2024-25.

According to the bank’s report, inflation is expected to slow down to 15% in the next fiscal year, from the current 26% in the ongoing financial year.

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The report also predicts a 2.3% economic growth rate for the next financial year, a slight improvement from the 1.8% growth rate expected for the current fiscal year. The growth rate of agriculture and industry is expected to be 2.2% in the next fiscal year.

The World Bank report also forecasted a reduction in the current account deficit to 0.6% of the economy in the next fiscal year, from the current 8% of the GDP.

Additionally, the financial deficit is expected to decrease to 7.4% of the GDP in the next fiscal year, from the current 8% of the GDP.