Saturday, July 13, 2024

Pakistan’s GDP Growth Projected to Remain Below 3-4% in FY23: State Bank

Central bank releases Annual Report on The State of Pakistan’s Economy. The State bank of Pakistan is hopeful that Pakistan’s economy is going to stable in the upcoming time.

The SBP said that the economy was already in a stabilization phase when wide-scale flooding hit a large part of the country at the start of FY23.

“The flooding in FY23 is likely to impinge on the country’s real economic activity through various channels. Specifically, the losses in agriculture emerging from the damages to crops and livestock are likely to transmit to the rest of the economy through various backward and forward linkages.

“Similarly, the wide-scale destruction of infrastructure in the affected provinces may also undermine the country’s growth prospects during the year,” said the report.

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