ISLAMABAD: The Asian Development Bank has predicted a decline in inflation in the region.
The Asian Development Bank has released the annual Asian Development Outlook report. Inflation in Pakistan is expected to decrease in the next financial year, which will decrease from 25% to 15%. Pakistan’s growth rate is predicted to be 1.9 percent this fiscal year.
The report issued by the Asian Development Bank said that Pakistan is dependent on international financial institutions and friendly countries for external payments, Pakistan needs to take steps for the financial inclusion of women.
Agricultural production and industrial sector are expected to improve in Pakistan this fiscal year, growth has been affected by rising costs and tax hikes in the construction sector.
Pakistan’s next financial year growth rate is estimated to be 2.8%, the current financial year inflation in Pakistan is likely to remain at a high level of 25%, but the next financial year the rate will come down to 15% and food prices will also stabilize. will
According to the report, inflation will remain high due to the increase in the prices of the energy sector under the IMF program, the growth rate of the region is estimated to be 4.9% due to the increase in local demand and development, exports and tourism in Asian countries.
The report said that China’s growth rate is 4.8% while India’s growth rate is likely to be 7%. Pakistan’s economy has shrunk due to political uncertainty and floods. If implemented, the process of economic recovery will start from this year.
