Asian Development Bank fears rising inflation in Pakistan
ISLAMABAD: The Asian Development Bank (ADB) has expressed concern over rising inflation in Pakistan.
According to the Outlook Report 2021, the reason for the rise in inflation in Pakistan was the increase in electricity tariffs and oil prices. According to the report, overall inflation in the region will be 5.9% instead of 5.8%. Cotton and sugarcane production increased in Pakistan. The performance of the services sector in Pakistan has also improved. Economic growth in South Asia is expected to be 8.6 percent this year instead of 8.8 percent.
The ADB report also mentioned the worrying economic situation in Afghanistan. He blamed the crisis on a drop in international aid. Inflation in India is also expected to be 5.9 percent.