Wali Zahid | IMC
19 May 2020 update: For the first time in 68 years, Pakistan’s economy has marginally contracted by 0.38% in the outgoing fiscal year. The National Accounts Committee also approved the provisional GDP growth rate for the first year of the PTI government from 3.3% to 1.9% for fiscal 2018-19, which is the lowest in 11 years.
The economic contraction coupled with currency devaluation has caused the size of the economy – in the US dollar terms – to slip to around $265.6 billion from $280 billion a year ago. At the end of the PML-N government’s term, the size of the GDP in dollar terms was $313 billion. – Tribune
In its revised WEO, IMF has forecasted Pakistan GDP growth to be Negative 1.5.
18 January 2020 update: In its World Economic Situation and Prospects (WESP) 2020 report, the UN forecasts Pakistan’s GDP growth to slip to 2.1% this year (fiscal 2020-21). Indian economy is expected to rise to 6.6% and Bangladesh to grow by 7.8%, says WESP.
7 April 2019 update: Pakistan’s GDP growth is projected to slow down to 3.4% in fiscal year 2018-19, from 5.8% a year before, and to 2.7% in FY2019-20, reflecting a broad-based weakening in domestic demand as monetary and fiscal policies have been tightened to contain macroeconomic imbalances, the World Bank said in a report.
In its latest edition of the South Asia Economic Focus, Exports Wanted, the World Bank cited macroeconomic imbalances, reflected in large fiscal and current account deficits, as the reason behind the projected slowdown in Pakistan’s GDP growth. – News
10 October 2018: The International Monetary Fund (IMF) sees Pakistan GDP growth to fall at 4% during the current fiscal year as it says the economy is losing grip on the gains made during the previous years.
“Growth in Pakistan is expected to strengthen from 5.4% in 2017 to 5.8% in 2018… underpinned by improved energy supply, investment related to CPEC, and strong credit growth,” the IMF said in the ‘World Economic Outlook (WEO) October 2018: Challenges to steady growth’ report.
“However, macroeconomic stability gains have been eroding, putting the outlook at risk. Growth is expected to moderate to 4.% in 2019, and slow to about 3% in the medium term – till 2023.” – The News
Pakistan is world’s 4th fastest growing economy: HSBC
It was only this week that we had reported Pakistan’s long-term positive outlook (link above), provided by HSBC in its 2030 report. The forecast provided by IMF today will impact our 2030/2050 forecasts by HSBC, PwC, and Goldman Sachs negatively.
Some other indices on Pakistan
Pakistani nationality ranks second least valuable in the world
Pakistani passport ranked second worst for international travel
Pakistan 11th strongest military in the world
Pakistan ranks 11th worst in Global Hunger Index
Nuclear warheads down worldwide, up in South Asia
Pakistan’s global competitiveness – in 11 photos
Pakistan at rock bottom in Human Capital Index
How is Pakistan developing its youth? This report may shock you
Pakistan tops gender inequality ranking in Asia Pacific
Pakistan world’s 14th most fragile country
Will Pakistan risk falling behind when S Asia ups economic game
Karachi 6th least liveable city in the world
Peshawar is the world’s second most polluted city
Newly updated IMF GDP growth forecast for Pakistan:
It’s the economy, stupid
In April 2018 WEO, before the current PTI government took office, the projections we reported were:
Earlier this week, the World Bank revised down growth forecast for Pakistan to 4.8% for the current fiscal year as it says the macroeconomic stabilisation is to take toll on the economy.
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