Moody’s says CPEC will push economic activities in Pakistan

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ISLAMABAD: The China-Pakistan Economic Corridor (CPEC) will boost economic activities in Pakistan and the ratio of economic progress is expected to be 4.9% during the current year, says a report issued by international ratings agency Moody’s Corporation.

Pakistan’s annual economic progress has not touched 5% in more than a decade, but chances of achieving this reading are high this year owing to CPEC, a news channel reported.

According to Moody’s, CPEC will boost economic activities, increase industrial production and push development work.

The report also praised the banking system of Pakistan, saying that banking strength of the country would result in further progress in next fiscal year 2017-18.

However, it cautioned that poor security situation and political instability may harm the economic progress.