Wednesday, April 17, 2024
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HomeWorldIMF delivers bad news for Pakistan, cuts growth forecast by 0.5%

IMF delivers bad news for Pakistan, cuts growth forecast by 0.5%

commerce Editor

London: IMF sounded the alarm while giving bad news for Pakistan. There is bad news for Pakistan from the International Monetary Fund. The World Organization has reduced the forecast for the growth rate of Pakistan’s economy by 0.5 percent. Previously, this rate was two and a half percent. In its latest report, the International Monetary Fund (IMF) said in October 2023 that Pakistan’s growth rate will be 2.5 percent in 2024. The IMF had set the global growth rate at 3.1 for 2024, while for 2025 This rate was fixed at 3.2. The IMF forecast for 2024-25 was lower than the historic 3.8 percent. This forecast was in the context of central bank policy rate hikes, withdrawal of monetary support, and falling output rates. Inflation rates are falling faster than expected in several regions. On the one hand, supply-side issues persist and on the other hand, new limits are being set about monetary policy. The IMF has forecast a 5.8 percent rise in inflation for 2024. The forecast for 2025 is 4.4 percent.

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