Pakistan will maintain its economic growth at over 5 percent as the country sees massive investments in infrastructure projects, the International Monetary Fund predicted.
In its World Economic Outlook for 2017, the Fund said Pakistan is forecast to grow at 5 percent this year and 5.2 percent in 2018.
The report has been released during the annual 2017 IMF-World Bank Spring meetings.“In Pakistan, a broad-based recovery is expected to continue at a healthy pace, with growth forecast at 5 percent in 2017 and 5.2 percent in 2018, supported by ramped-up infrastructure investment.”
The report does not go into much detail about Pakistan’s economic turnaround but in the last couple of years, China Pakistan Economic Corridor has been a major factor in stepping up spending and stimulating growth in the South Asian country.
Additionally, Islamabad’s success in its counterterrorism campaigns has also seen a significant improvement in security scenario, bringing back investors into various sectors of the economy.
The services sector has also expanded. Last year, Pakistan successfully concluded an IMF credit program, bolstering its standing with world financial institutions.