ISLAMABAD, (Millat + APP): A report by management consultancy
PricewaterhouseCoopers forecasts that Pakistan could surpass the
Canadian economy by 2050.
According to a private news channel, “By 2050, emerging
economies such as Mexico and Indonesia are likely to be larger
than the UK and France, while Pakistan and Egypt could overtake
Italy and Canada,” PWC said in a report published Tuesday.
The findings based on gross domestic product purchasing
power parity (PPP) terms also forecasts India will replace the
United States as the world’s second largest economy after China by
2050.
According to the measure, Canada is currently ranked as the
17th largest economy, but by 2030 the country will slip to No. 18
and by 2050 to No. 22. Egypt will move to No. 15 place and
Pakistan right behind it.
Despite the Canadian economy’s diminished status, the
country’s GDP will roughly double to US$3.1 trillion by 2050 from
its current level.
The PWC forecast seems incredulous as Egypt’s GDP based on
the more common market exchange rates (MER) stood at US$340
billion and Pakistan a mere US$284 billion in 2016.