IMF forecasts Pakistan's GDP at 3.3 for current year
WASHINGTON: The International Monetary Fund (IMF) has predicted the decline in Pakistan’s Growth Development Product (GDP) during the current year, ARY News reported on Wednesday.
The report of IMF said that GDP of Pakistan will remain at 3.3 per cent in 2014, which was 0.4 per cent lower than predicted before while it will increased to 4.8 per cent for the year 2015.
IMF has raised forecasts on growth rates of the world economy for the first time in the last two years.
According to the updated estimates, world gross domestic product will increase by 3.7 per cent in the current year, and then by 3.9 per cent in 2015.
Earlier as per report announced in October last year, the growth of the world economy in 2014 was expected to be on a level of 3.6 per cent.
The IMF also improved the forecast for the USA from 2.6 per cent to 2.8 per cent, for China from 7.2 per cent to 7.5 per cent, and for Germany, from 1.4 per cent to 1.6 per cent.
According to the report the economic growth of Middle East and Afghanistan will remain at 3.3 per cent.