Pakistan predicted to be world's fastest-growing Muslim economy
- By Web Desk -
- Jan 11, 2017
ISLAMABAD: Pakistan will be world’s fastest-growing Muslim economy in 2017 ahead of Indonesia, Malaysia, Turkey and Egypt, says data provided by “The Economist” magazine.
Pakistan’s estimated GDP of growth “5.3%” is also ahead of 4% GDP growth of Israel, making Pakistan world’s fifth fastest growing economy in the world, only behind India and China and two other countries.
The London-based Economist offers authoritative insight and opinion on international news, politics, business and finance.
The data comprising global figures, is updated twice daily and is published on the Economist’s website in the form of an interactive table of economic and financial indicators.
This data reinforces a Harvard University study which predicted Pakistan to grow by more than 5% in the next decade.
ALSO READ: Pakistan’s stock market leaves India in the dust
According to the interactive table the contrasting trends in Pakistan’s economy; “The Economist” in 2014 had forecast Pakistan to be world’s sixth fastest-growing economy.
This year, the four world economies ahead of Pakistan are: India (7.5%), Vietnam (6.6%), China (6.4%), and Philippines (6.4%).
However Pakistan is ahead of large Muslim economies such as: Indonesia (5.2%), Malaysia (4.6%), Egypt (4.0%), and Turkey (2.9%), according to the Economic and financial indicators of the magazine.
All of these countries except Malaysia are expected to be among the top 20 economies in the world in 2050, the Economist says.
The Economist forecast follows a report by Bloomberg that termed Pakistan Stock Exchange as the 5th best performing stock market in 2016.