ADB warns Pakistan's economic outlook uncertain due to political unrest, floods, and policy slippage, predicting GDP growth of 1.9% in FY2024.
Pakistan's economic outlook remains uncertain with high risks on the downside due to political unrest, devastating floods, and policy slippage, according to the Asian Development Bank (ADB). The bank's annual Asian Development Outlook Report 2024 warns that these factors are major hurdles in Pakistan's economic progress, and uncertainty is a significant risk towards the country's efforts for stabilisation, recovery, and reforms. Pakistan's GDP declined by 0.2% in FY2023, and the ADB projects growth to remain subdued at 1.9% in FY2024.
April 11, 2024
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