IMF bumps Pakistan’s GDP growth rate projection to 5.27

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ISLAMABAD: The International Monetary Fund (IMF) has increased the projections of Gross Domestic Product (GDP) growth for Pakistan to 5.277 compared to April’s figure of 5.

The IMF on Tuesday released its October projections for global growth, bumping its forecasts, saying an uptick in the world economy would likely gather pace into next year.

Pakistan’s economic resilience has been praised in IMF report.

The IMF predicted a 35 per cent increase in the current account deficit to Rs 465 billion from its April forecast of Rs 344 billion.

The deficit projections have been doubled for 2018 and 2019 in the October forecast as compared to April estimates.

Inflation according to October projections will be down by 0.1 per cent from April estimates.

Overall, the projections for various economic indicators remain positive.

 

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