IMF fears Pakistan won't be able to achieve growth target

The International Monetary Fund (IMF) has said that Pakistan's economic growth is expected to stand at three per cent in the ongoing fiscal year. 

IMF on Friday released its World Economic Outlook report, which highlighted mixed economic projections for the current and upcoming fiscal years.

According to the report, Pakistan's economic growth was expected to stand at three per cent during the current fiscal year, significantly below the government’s target of 3.6 per cent. For the following year, the IMF anticipated an increase in Pakistan’s growth rate to 4 per cent. 

The report also forecast growth trajectories for other major economies. India was projected to achieve a robust economic growth rate of 6.5 per cent during both the current and next fiscal years. IMF noted that this steady trend reflected India’s economic resilience amidst global uncertainties. 

For the United States, the report estimated a growth rate of 2.7 per cent for the ongoing fiscal year, with a deceleration to 2.1 per cent in the subsequent year. Meanwhile, China's economy was expected to grow at 4.6 per cent this year, followed by a slight dip to 4.5 per cent next year. 

In the case of the United Kingdom, IMF anticipated a growth rate of 1.6 per cent for the current fiscal year, with a marginal decline to 1.5 per cent in the next fiscal year. 

This report underscored the global economic challenges and regional disparities in recovery and growth.