ISLAMABAD, Mar 13 (APP): The World Bank in its recent
Macroeconomic Outlook-2015 about Pakistan, has projected
steady growth, recovery-cum-low inflation, supported by
fiscal consolidation and improving external position for
the next two years.
According to the Bank’s Outlook-2015, Pakistan economic
growth was projected to accelerate to 4.5 percent in FY 2016
and then further to 4.8 percent in FY 2017 supported by strong
growth in industry and services.
The Bank report further said that Pakistan’s investment
was expected to increase to 15.4 percent of GDP by FY 2017 on
account of operationalization of China Pakistan Economic
Corridor (CPEC)-related projects.
The report further said that inflation was projected to
stay low in view of low commodity prices, exchange rate
stability and prudent fiscal policy.
The World Bank’s Outlook 2015 about Pakistan further
said that the current account deficit was projected to
increase slightly to 1.0 percent of the GDP by FY2017 but it
would remain manageable.
“So far remittances originating from Gulf countries
have not been affected by the decline in oil price and were
expected to stay robust in the near term.
It added that Pakistan’s exports were projected to
contract in the first year owing to tapered global demand
and then grow marginally the following year.
The World Bank Report said that the imports, however
were projected to post moderate growth due to CPEC related
investments and higher domestic demand.