Business

Bloomberg terms Pakistan’s economic growth ‘pleasant surprise’

NEW YORK: An article published in a major American business magazine has called the economic growth in Pakistan is a pleasant surprise.

According to the article published in Bloomberg magazine, most of the developments taking place in Pakistan are welcoming.

The write up in the business journal said that the performance of the stock market in Pakistan is exemplary which yielded 46 percent profit in FY15-16.

The article also mentioned that the economic growth rate of Pakistan has also improved which manifests that the country is on the correct path of economic progress.

The Bloomberg article further commented that poverty and incidents of terrorism are going down in Pakistan.

It also stated that inflation is not a problem for the country now.

‘Pakistan’s economy on track’

In March 2016, US magazine Forbes in its report said that Pakistan’s economy has been growing for a number of years and it is back on track to complete an International Monetary Fund (IMF) programme from start to finish for the first time in its history.

“Pakistan’s growing middle class, which will expand from an estimated 40 million people today to 100 million people by 2050, represents a powerful engine for change, demanding both improved services and greater access to opportunities.”

Pakistan, the report said, is the sixth largest country by population in the world and is projected to become the fourth largest country by 2050. “To understand Pakistan requires analysis through its own sui generis set of issues and opportunities.”

The report noted that Pakistan had its first peaceful democratic transition in 2013 and currently the military, the civilian government, and civil society are broadly aligned on security issues.

“Pakistan’s economy has been growing for a number of years, and it is on track to complete an International Monetary Fund (IMF) program from start to finish for the first time in its 70-year history,” the report said.

“Pakistan’s growing middle class, which will expand from an estimated 40 million people today to 100 million people by 2050, represents a powerful engine for change, demanding both improved services and greater access to opportunities.”

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