IMF on Tuesday reported that Pakistan’s GDP growth rate for the fiscal year 2021 is expected to be 1% only.
In its report – A long and difficult Ascent – the International Monetary Fund (IMF) highlighted that they predict a growth of 1% in GDP in FY21 which has remained at -0.4% in FY20.
The report also discussed the inflation rate of the country which is expected to be around 8.8% in 2021. Whereas this year (2020) it’s 10.7%.
Other than the GDP growth, the IMF also talked about the cons related to the unemployment ration in FY21:
The unemployment rate is expected to accelerate to 5.1% in FY21 compared to 4.5pc in FY20,IMF Report – A Long and Difficult Ascent
In addition to these, the report from IMF also outlined the probabilities in the growth of remittances, which dropped drastically earlier this year.