ISLAMABAD (Web Desk) - The International Monetary Fund (IMF) has projected slower economic growth and rising inflation in Pakistan in its latest report.
According to the IMF report, Pakistan’s GDP growth is expected to remain at 3.6 percent this year before slowing to 3.5 percent next year.
The government has set a GDP growth target of 4.2 percent for the current fiscal year.
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The report stated that average inflation is projected at 7.2 percent this year and may rise to 8.4 percent next year, while overall inflation is forecast to remain at 11.5 percent during the current year.
The IMF further estimated that the budget deficit could increase from 3.2 percent to 3.4 percent. Unemployment is expected to remain at 6.9 percent this year before declining to 6.5 percent next year.
According to the report, the primary balance is likely to remain at 2.5 percent this year and may decline to 2 percent next year.