Pakistan's economic situation to remain frail until 2 years: World Bank
- By Web Desk -
- Oct 11, 2018
ISLAMABAD: The World Bank has indicated that the economic scenario in Pakistan is to remain shaky till next two years.
Pakistan is stuck in a situation where its economy is experiencing a downward trajectory while its outlay is very high, said the report published by the bank.
Anticipating a period of two stumbling years for the economy of Pakistan, the report highlighted two factors: rise in poverty and the weak economic development.
The report further said Pakistan would face the challenges of alleviating poverty and creating employment opportunities, adding that the ever increasing loss of capital will have to be controlled in order to ensure long term development.
To increase the GDP, investment and industrial production in the country are to be promoted, the report advised.
Pakistan is the only country of South Asia, the report said, which has very limited options to rescue its sinking economy.
A day earlier, Finance Minister Asad Umar met President World Bank Dr. Jim Yong Kim on the sidelines of the World Bank/IMF Group Annual meetings in Bali city of Indonesia.
According to a statement issued by Ministry of Finance, Asad Umar shared with the World Bank leader, the vision of the new government and its priorities and the current level of Pak-World Bank cooperation.