Pakistan's Q2 GDP growth slowed to 1% due to high interest rates impacting businesses and consumer demand.
Pakistan's economic growth slowed in the fiscal second quarter, with GDP expanding 1% in the October-December period from a year ago, due to high interest rates that impacted businesses and reduced consumer demand. Agriculture experienced growth of 5.02%, while industry contracted 0.84% and the services sector increased by 0.01%. Pakistan's economy has remained fragile despite avoiding a sovereign default in 2022.
March 28, 2024
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