ADB Sees Lower Inflation and Growth in Pakistan
In an update to its Asian Development Outlook, ADB said that the inflation rate has dropped in the country to a minimum level in two years, which is expected to go further down.
The growth rate of Pakistan is likely to remain at 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 the country,” the report said.
The lender said that the exchange rate has also improved, while the growth rate is 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.
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