World Bank: Pakistan's GDP Likely to Recover to 1.7 Percent in FY 2023-24
TEHRAN (ANA)- The World Bank said in its report that Pakistan's real GDP growth is likely to recover to 1.7 percent in the ongoing fiscal year from July 2023 to June 2024.
The World Bank projected in its report "Pakistan Development Update: Restoring Fiscal Sustainability" that Pakistan's real GDP will recover to 2.4 percent in the next fiscal year (July 2024 to June 2025).
The bank said that Pakistan's economic growth is expected to remain below potential over the medium term with some improvements in investment and exports.
The World Bank said that the decline in Pakistan's economic activity reflects the accumulation of domestic and external shocks, including the floods of 2022, suggesting that careful financial management and deep structural reforms will be required to ensure macroeconomic stability and growth in Pakistan.
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