Moody’s says CPEC will push economic activities in Pakistan

 

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.

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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.

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