ISLAMABAD: World Bank has projected Pakistan’s economic growth at 5.2% in the current fiscal year while indicating that upcoming general elections may put the country’s growth oriented economic policies at risk.
World Bank’s biannual South Asia Economic Focus Report 2017 estimates Pakistan’s growth in the next two fiscal years at 5.5 and 5.8.
Among the risks that the World Bank highlighted were slower progress on much-needed structural reforms, lingering uncertainty about the US economic policy, a strong rupee and protracted global economic weakness.
The bank says in its report that China-Pakistan Economic Corridor (CPEC) project will enhance the growth rate in the country with activity in construction and industrial sectors.
The bank advised long term policies for poverty alleviation and economic development, investment in private sector and infrastructure development.
The World Bank report has also warned that slower progress on the structural reforms and populist policies ahead of the upcoming general elections could weaken growth prospects.