The International Monetary Fund (IMF) on Tuesday predicted further inflation and unemployment in Pakistan.
The international lender in its report, “World Economic Outlook (WEO: A Rocky Recovery”), released on Tuesday, forecast a rise in already stagnant inflation and unemployment and slow economic growth in Pakistan, and Pakistan The possibilities of improvement in economic conditions have been shown. next year.
The fund also said that Pakistan’s GDP is likely to decline by 3.5 percent to 0.5 percent in FY24 from 6 percent in FY22, the government’s economic growth target of 5 percent. According to the IMF, inflation is more than double this year, at 27 percent, and unemployment is forecast to reach 7 percent.
According to the IMF, the current account deficit will remain limited to 2.3 percent of GDP, the report said. The report said that the GDP growth rate next year will be a marked improvement at 3.5 percent and inflation will decrease to 21.9 percent.
The IMF further forecasts that the current account deficit will remain within 2.3 percent of gross domestic product (GDP). In addition, the IMF report forecasts GDP growth of 3.5 percent for the coming year, indicating significant progress. Additionally, the report suggests that inflation will come down to 21.9 percent, indicating a positive trend in the economy.
The current account deficit (CAD) will remain at 2.4 percent, while the unemployment rate is expected to decline by 0.2 percent, the report said.
He added that the global economy is slowly coming out of the negative effects of the corona virus epidemic and the Russia-Ukraine war.
