WASHINGTON: World Bank has said that Pakistan’s growth rate for the current fiscal year will be 4.7 percent, ARY News reported.
The bank in its review of the economic performance of South Asian countries has stated that the region’s growth rate will be five percent in the next fiscal year.
The report said that Pakistan’s growth rate is expected to go up by 5.4 percent in 2018.
The bank also mentioned that China Pakistan Economic Corridor (CPEC) is the main reason for the improvement in Pakistan’s growth rate.
The report also highlighted the need of more reforms in the economic sector of Pakistan in order to eradicate poverty and stabilize the economy.
The World Bank report also stated that the South Asian region has put on a better economic performance despite slowing down of the international economy
According to the report, South Asia’s growth rate for the current fiscal year will be 7.1 percent.