IMF downgrades Pakistan’s GDP growth forecast to 3.2% for FY25

By MG News | September 28, 2024 at 04:39 PM GMT+05:00

0:00

September 28, 2024 (MLN): The International Monetary Fund (IMF) has downgraded Pakistan's GDP growth rate projection to 3.2% for the fiscal year 2025 from the July's projection of 3.5%.

That compares with the Asian Development Bank's projection of 2.8%.

Pakistan’s economy grew 2.38% in the fiscal year 2023-24 as compared to a contraction of 0.21% in the previous year, but lower than the targeted 3.5%.

The global lender issued a detailed Pakistan report after approving Pakistan’s request for a $7 billion, 37-month Extended Fund Facility (EFF).

Copyright Mettis Link News

Related News

Tribunal upholds CCP’s order against ICAP in price-fixing case

Govt waives tax, slashes duties on sugar imports

Virtual Assets get legal backing in Pakistan

Name	Price/Vol	%Chg/NChg
KSE100	132,576.99 161.03M	-0.62% -826.20
ALLSHR	82,983.68 903.36M	-0.25% -204.38
KSE30	40,358.80 56.86M	-0.72% -292.66
KMI30	190,727.32 67.92M	-0.71% -1356.60
KMIALLSHR	55,698.48 457.08M	-0.27% -149.22
BKTi	36,242.06 11.15M	-0.50% -180.82
OGTi	28,323.42 10.71M	-0.40% -114.19

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,560.00	109,565.00 108,625.00	345.00 0.32%
BRENT CRUDE	70.27	70.71 69.85	0.12 0.17%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	1.45 1.51%
ROTTERDAM COAL MONTHLY	109.00	109.00 109.00	1.90 1.77%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.47	68.94 67.78	0.14 0.20%
SUGAR #11 WORLD	16.39	16.42 16.08	0.26 1.61%