UN projects Pakistan’s economy to grow by 2 percent in 2024
Pakistan, which faces significant economic challenges, is expected to have “modest economic growth”, with its gross domestic product (GDP) projected to expand by 2 per cent in 2024, according to a major United Nations report.
Noting that Pakistan had entered into a Stand-by Arrangement with the International Monetary Fund (IMF) worth $3 billion, the mid-year World Economic Situation and Prospects report said that the programme was expected to help stabilize the economy, increase the country’s foreign exchange reserves, and facilitate fiscal adjustment while also protecting crucial social spending. At the same time, it said that in South Asia tight financial conditions and fiscal and external imbalances will continue to weigh on growth in the near term.
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