The Asian Development Bank (ADB) has released its latest Economic Outlook Report on Pakistan, noting several positive trends in the country’s economy.
The report highlights a decrease in inflation and interest rates, with signs of gradual economic recovery. The ADB projects Pakistan’s GDP growth to reach 3% in the next fiscal year, marking a steady rebound.
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This recovery is largely attributed to the implementation of the IMF loan program, which has brought economic discipline. For the current fiscal year, the growth rate is expected to be 2.5%, with an increase in overseas remittances further supporting the economy.
Inflation is also on a downward trajectory, with the ADB predicting it to remain at around 6% for the current fiscal year and potentially fall to 5.8% in the next. This decline is aided by stable global oil and food prices. Additionally, the ADB commended the progress made in Pakistan’s tax and energy reforms.
However, the report also pointed out the underrepresentation of women in Pakistan’s labor force compared to other countries in the region. The ADB recommends vocational training programs to help women gain essential skills and access better employment opportunities, enabling them to contribute more significantly to the economy.
