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Pakistan’s Economic Growth

By 29/09/2021 0 Comments

The Asian Development Bank (ADB) has projected a Gross Domestic Product (GDP) growth of 4% for Pakistan in the fiscal year 2022. According to the ADB Outlook 2021, the growth statistics observed a recovery in private investment as consumer confidence reaches pre-pandemic levels. The ongoing vaccination rollout and the multiple economic stimulus packages introduced by governments has helped economies restore economic activities to pre-pandemic levels. In Pakistan, the investment levels gradually increase with the International Monetary Fund (IMF) support stabilization program strengthening the country’s forex reserves.

The ADB outlook report 2022 highlights Pakistan’s Agricultural Transformation Plan to achieve food security for a growing population by encouraging the use of water-efficient practices, post-harvest storage facilities, the establishment of food processing plants, and the Kissan card scheme, which is a digital wallet for farmers and small agricultural investors. Apart from the Agriculture Transformation Plan, the government also launched the construction amnesty scheme last year to boost economic activity in the real estate and allied industries.

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