Pakistan's economy improving due to economic discipline: ADB

ISLAMABAD: The Asian Development Bank has said that Pakistan’s economy has improved owing to its economic discipline, ARY News reported.

In an update to its Asian Development Outlook, ADB said that the inflation rate has dropped in country to minimum level in two years, which is expected to go further down.

The growth rate of Pakistan likely to remain 2.8 percent in the ongoing year, ADB predicted. The growth rate was 2.4 percent in the previous financial year.

“The rate of inflation in the country has dropped to 15% from 23.5%,” according to the ADB report.

“The business environment and the energy sector’s capacity has also improved in country,” the report said.

The lender said that the exchange rate has also improved, while the growth rate likely to improve further by 2025, the ADB said.

The Bank in its outlook said that developing Asia has been on track to grow 5% this year, supported by strong consumption and high demand for tech exports.

In an update to its Asian Development Outlook report, the ADB left most growth projections for economies in the region unchanged from its July report.