ISLAMABAD: Pakistan’s Gross Domestic Product (GDP) growth rate will continue to accelerate in the coming financial years.
According to a World Bank report on Pakistan Development Update, Pakistan’s GDP growth will reach 5.5 percent in the next fiscal year and 5.8 percent in fiscal year 2019.
The report said Pakistan’s growth will continue to benefit from growing consumer and investor confidence in the first half of current fiscal year, following the successful efforts to restore macroeconomic stability during the last four years.
It said a moderate increase in investment is expected to supplement the growth, driven primarily by public and private consumption.
The report was launched in Lahore in collaboration with Lahore School of Economics.
Meanwhile, World Bank’s Country Director for Pakistan, Illango Patchamuthu has said “Pakistan’s accelerating growth is good news and reflects the country’s success in building confidence.