There are fears that the government's economic growth and inflation targets will not be achieved in the current fiscal year, the International Monetary Fund (IMF) said in its World Economic Outlook on Tuesday.
According to the IMF report, the economic growth rate estimate for Pakistan for the current fiscal year remains at 3.6%. The federal government has set the economic growth rate target for the current fiscal year at 4.2%. The economic growth rate in Pakistan is estimated to increase to 4.5% in the fiscal year 2030, the report said.
The economic growth rate of Pakistan for the previous fiscal year is estimated at 2.6%, IMF said. The average inflation rate in Pakistan is estimated at 7.7%, according to the global lender.
The federal government has set the average inflation target for the current fiscal year at 7.5%. The average inflation rate in Pakistan is estimated to decrease to 6.5% in the fiscal year 2030. The average inflation rate in Pakistan for the previous fiscal year is estimated at 5.1 percent.
The current account deficit in Pakistan is estimated to be 0.4 percent of GDP in the current fiscal year, the report said. The current account deficit in Pakistan is estimated to be 1.1 percent of the GDP in the fiscal year 2030. The current account deficit in Pakistan was 0.1 percent of the GDP in the previous fiscal year, the report added.