Pakistan’s economy will expand by 2.5% in 2024, according to News’ World Economic Report.
IMF projects Pakistan economy: The international lender’s World Economic Outlook report, released on Tuesday, forecasts that Pakistan’s inflation rate will decrease from 29.2% in 2023 to 23.6% in 2024.
The survey also predicted that Pakistan’s unemployment rate would decrease in the coming year, from 8.5% to 8%. But by 2024, the current account deficit will have increased from 0.7% to 1.8%.
The IMF offered a dire image of the world economy at the same time, but claimed that it was gradually improving.
prognosis for the world economy
The International Monetary Fund (IMF) reported on Tuesday that it had maintained its global GDP growth prediction for 2023 at 3%, but had decreased it for 2024 by 0.1 percentage points to 2.9%.
In a report, the IMF stated that the growth forecast for advanced nations by the institute remained unchanged at 1.5% for 2023 and 1.4% for 2024.
The fund’s previous prediction, which was made in July, had set 2024’s GDP growth for emerging markets at 4.1%. However, the current forecast indicates a growth rate of 4% for both 2023 and 2024.
The growth projection for the euro area in 2023 is 0.7%, reflecting a decrease of 0.2 percentage points, and for 2024, it is 1.2%, showing a decrease of 0.3 percentage points.
Germany is one of the larger economies in the eurozone, and predictions for both this year and next year’s growth have decreased.
In its most recent report, the IMF predicted that the US economy will grow by 2.1% this year and 1.5% the following year.
In contrast to Russia, which had growth rates of 2.2% for this year and 1.1% in 2024, China is expect to experience GDP growth of 5% this year and 4.2% in 2024.
The IMF also reduced its projection for the volume of global trade growth from 3.7% to 3.5% for the following year and from 2% to 0.9% for this year.