Pakistan’s economy is relatively improving, UN report says

According to a report released by the United Nations on the global economic situation, Pakistan’s economy is relatively improving, mainly due to demand in the private sector, record remittances from abroad and financial support.

According to the report, Pakistan’s economy improved at a rate of 4.5% in 2021 while GDP growth is expected to be 3.9% in 2022.

The report said that in the second half of the current financial year, Pakistan increased interest rates due to rising inflation and widening current account deficit.

According to the report, countries like Pakistan did not get adequate relief due to suspension of loan repayment by G-20 countries.

The UN report states that Pakistan’s economy needs revenue restoration and multi-faceted assistance, the central bank needs to take timely policy changes to improve all sectors and stabilize prices.

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