World Bank has come up with good news for Pakistani economy. World Bank had predicted that Pakistani economy would rise by 5.2 percent for year 2016-2017 and now it has forecasted that Pakistan economy would increase by 5.5% in next fiscal year. This would be due to better energy supply, rise in investment in private sector, better security and similar reasons.
In World Bank’s Global Economic Prospects of June 2017 the economy of South Asia has been talked about. It is forecasted that the South Asian region economy would raise by 6.8 percentage in 2017 and 7.1% is 2018. The report also indicates raise in demand for domestic product thus rise in exports.
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Globally raise in growth would be by 2.7% in 2017. This increase would be in trade and manufacturing, marketing and steady product prices. These three points would work in a combination to boost world economy.
Growth in developed countries would be rise to 1.9 percent, reason being that these countries trade with all other economies.
The seven emerging markets in the world would continue to grow due to their trading partners and as economic activities would improve in these countries.
Some wrong economy policies can reduce investment. As some market policies cause market commotion. Also if poverty reduces in underdeveloped nations it can also risk development of world economies. As per Jim Yong Kim, World Bank Group President there is progress going on in removing poverty in weak economies. If countries can make use of the growth that is seen then development is certain.