In contrast to the World Bank’s assessments, the International Monetary Fund (IMF) paints a more upbeat picture of Pakistan’s economic future in its latest World Economic Outlook Report 2024. The report heralds a significant upturn in key economic metrics, including inflation, unemployment, and overall growth.
IMF projects Pakistan’s economic growth to soar to 3.5 percent in the upcoming year, a marked improvement from the anticipated 2 percent growth for the current year. This trajectory indicates a promising surge in economic activity.In terms of inflation, the report foresees a substantial decrease, with inflation rates expected to plummet from 24.8 percent this year to 12.7 percent next year.
Similarly, unemployment figures are anticipated to dip, with an estimated rate of 8 percent this year, projected to decline further to 7.5 percent next year.These encouraging forecasts by the IMF signal a hopeful momentum for Pakistan’s economic landscape, hinting at potential enhancements in the country’s financial health in the years ahead.
