Summary Pakistan's economic growth rate has improved by 0.5 percent compared to October 2020.
WASHINGTON (Dunya News) - The International Monetary Fund (IMF) has indicated that the growth rate across the world including Pakistan is likely to improve this fiscal year, Dunya News reported.
The IMF has released World Economic Outlook 2021, which shows that Pakistan s economic growth rate has improved by 0.5 percent compared to October 2020.
According to a January 2021 report by the IMF, Pakistan s post-coronavirus lockdown economic recovery has improved. Economic activity in Pakistan has accelerated since October 2020, and Pakistan s economy has improved by 0.5 percent.
According to the IMF report, Pakistan s economic growth rate is expected to grow by 1.5 percent during current fiscal year.
Optimism that new vaccines will bring the pandemic under control and allow economic activity to resume coupled with stimulus in major economies has boosted the growth forecast this year to 5.5 percent, the IMF said Tuesday.
"These developments indicate a stronger starting point for the 2021-22 global outlook," the IMF said in its latest World Economic Outlook (WEO).
The fund expects growth in the United States to be a full two points higher than previously projected at 5.5 percent, its strongest rate since 1984, while the IMF forecasts China growing 8.8 percent.
But the Washington-based crisis lender warned the outlook is beset by "extraordinary uncertainty" and more action is needed to prevent lasting damage.
