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IMF Forecasts A Slight Surge in Unemployment in Pakistan in 2020

IMF forecasts

IMF has indicated a small increase in the unemployment in Pakistan in the coming year that is in 2020.

The International Monetary Fund—IMF has projected an increase in the unemployment ratio for Pakistan—to 6.2percent from the present 6.1percent.

As per the IMF report, the World Economic Outlook—WEO the Global Manufacturing Downturn, Increasing Trade Barrier, forecasted a surge in the inflation rate for Pakistan from 7.3percent in the year 2019 to 13percent in 2020 and has revised the GDP growth rate from 3.3percent in the year 2019 to 2.4percent in 2020.

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The present account balance is forecast at a value of negative 2.6percent for the year 2020 as compared to negative 4.6percent for 2019.

The World Bank has forecasted the GDP growth rate of Pakistan at 2.4percent, the inflation rate to be at 13percent and a present account balance at 2.6percent of the GDP.

The Asian Development Bank, but, has forecasted Pakistan’s GDP growth rate at 2.8percent, the inflation rate at 12percent and the present amount balance at 2.8percdent of the GDP.

On the other hand, as per the latest development PIA has restored its flight operations to Malaysia. The flight operations were not operational since the past 8 months owing to the airspace closure.

More Read: PIA Restores Flight Operations to Malaysia

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