World Economic Outlook: IMF predicts Pakistan’s growth rate at 3.5%

The International Monetary Fund (IMF) has unveiled the World Economic Outlook and predicted Pakistan’s growth rate at 3.5%, ARY News reported on Tuesday.

The IMF’s World Economic Outlook report said that unemployment and inflation will further rise in Pakistan while the economic growth target would not be achieved.

The report stated that the unemployment rate would increase as compared to the previous fiscal year from 6.2% to 6.4%. The global institution predicted 3.5% growth rate in the current fiscal year, inflation 19.9% and current account deficit up to 2.5%.

Earlier in the day, Finance Minister Ishaq Dar along with a delegation left for the United States (US) to negotiate with international lenders.

READ: FM BILAWAL BHUTTO ZARDARI URGES IMF FOR NEW TERMS AMID FLOODS

As per details, the delegation led by Finance Minister Ishaq Dar will hold negotiations with the International Monetary Fund (IMF) and the World Bank (WB).

Pakistan has been demanding of the international lenders for new terms for Pakistan amid devastating floods in the country.

Earlier, Ishaq Dar held a virtual meeting with International Monetary Fund (IMF) Mission Chief, Nathan Porter after taking charge of the finance ministry.

According to the handout released by Finance Ministry, the finance minister briefed IMF about the economic situation caused by the devastating floods in the country which affected infrastructure, crops and the livelihood of the people.