Thursday, April 18, 2024

SBP expects a growth of 3% in 2021

The central bank of Pakistan is confident that the economy of Pakistan will grow with a rate of 3% in the current fiscal year as expected despite facing the pandemic in the form of third wave of Coronavirus.

Governor of SBP- State Bank of Pakistan, Reza Baqir, Pakistan has recently entered in the third wave of pandemic; however, it is with the much improved indicators of economic as compared to the weaker signs that were recorded when the first wave actually hit the country that was almost a year ago.

IMF- the International Monetary Fund has also projected that the GDP- gross domestic product of the country will grow about 1.5% in this current fiscal year that is almost half the projection of central bank that is of 3% for this year. Moreover, the World Bank has also anticipated a growth of about 1.3% in FY21.

Mehjabeen Qasim
Mehjabeen Qasim
Business Journalist at Startup Pakistan

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