Pakistan can hit $1 trillion Economy by 2035, says WB official

The World Bank’s Vice President for South Asia, Martin Raiser, has expressed optimism about Pakistan’s economic potential, stating that the country has the capability to grow at an annual rate of 7% and become a $1 trillion economy by 2035, reported the 24NewsHD TV channel.

Speaking on a private TV show, Raiser acknowledged the challenges of long-term economic projections but emphasised that achieving this goal is possible if Pakistan seriously implements its domestic economic recovery plans. 

He underlined the necessity of key reforms and robust policies for sustainable growth.

World Bank’s Support

Raiser highlighted that the World Bank has pledged $20 billion in support to Pakistan over the next 10 years. 

However, he clarified that this funding is conditional and will depend on Pakistan’s economic reforms and capacity to utilise resources effectively.

Call for Key Reforms

For a 7% annual growth rate, Raiser stressed the importance of essential economic reforms, including attracting foreign investments and improving trade relations. 

He advised Pakistan to focus on factors within its control to unlock its economic potential.

Political Consultation and Trade Relations

The World Bank official revealed that consultations had been held with political parties and civil society in Pakistan to build consensus on economic plans.

He also commented on Pakistan’s trade relations with India, urging the country to prioritise its resources and create favourable conditions for investment and trade.