According to the recent report entitled “World Economic Situation and Prospects (WESP) 2024” by the United Nations (UN), Pakistan is projected to experience “moderate economic growth” of 2% in 2024. This growth is anticipated to accelerate to 2.4% by 2025. The report indicates that Pakistan’s economy expanded by 1.7% in 2023. In the future, the inflation rate in Pakistan is anticipated to decline, according to the report.
In December 2023, Bloomberg also asserted that it is projected that Pakistan’s economy will recover, with the Gross Domestic Product (GDP) experiencing a growth rate of 2.1% in the fiscal year 2024. According to the research, the growth rate is expected to increase to 4.8% in fiscal year 2025.
Furthermore, a survey by Gallup & Gilani Pakistan 2024 reveals that this quarter saw a 21% increase in the number of businesses anticipating future prosperity compared to the previous quarter. The score for Net Future Business Confidence has risen by 42%.
It is imperative to mention here that the foundation of SIFC (special investment facilitation council) achieved via collaborative efforts from military leadership, serves to stabilize the economy, enhance the country’s foreign exchange reserves, improve fiscal adjustment, and safeguard critical social spending.
SIFC comprises several vital components. For instance, it encompasses impact investment, wherein financial resources are directed towards enterprises that possess measurable objectives of producing a positive social or environmental influence. The........