09-October-2024
Economy News
 
Pakistan economy grows faster than expected buoyed by IMF loan, lower rates
01-Oct-2024

Pakistan's GDP rose 3.07% in the last quarter, aided by IMF funds and lower borrowing costs. The government anticipates 3.6% growth by June 2025, with strong agricultural performance and easing inflation contributing to recovery.(AFP) Gross domestic product rose 3.07% in the three months to June from a year ago, the Pakistan Bureau of Statistics said Monday. That compares with a forecast of 2.7% in a Bloomberg survey of economists and a revised print of 2.36% in the January-March period. For the financial year that ended in June, growth was revised to 2.52% from a reading of 2.38% earlier. Pakistan was locked in a cycle of overlapping political and economic crisis that drove the nation close to default last year, but funds from multilateral lenders and loans from friendly countries have helped in stabilizing the country.

News Source:- https://www.hindustantimes.com/business/pakistan-economy-grows-faster-than-expected-buoyed-by-imf-loan-lower-rates-101727757725362.html