The growth rate of Pakistani economy is expected to be 2 percent this fiscal year, United Nations

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The growth rate of Pakistani economy is expected to be 2 percent this fiscal year, United Nations
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The growth rate of Pakistani economy is expected to be 2 percent this fiscal year, United Nations

Most South Asian countries faced devaluation pressure from July to December. Photo: File

United Nations: The United Nations has said that the growth rate of Pakistani economy is expected to be up to 2 percent during this year due to the improvement in economic prospects at the global level.

The report titled Global Economic Situation and Prospects released by the United Nations Department of Economic and Social Affairs (DESA) said that despite the economic challenges faced, Pakistan’s GDP is expected to increase by 2 percent during 2024.

Pakistan has signed a $3 billion stand-by arrangement with the IMF. This program will help to stabilize the economy and increase domestic foreign exchange.

Shantanu Mukherjee, official of the UN Department of Economic and Social Affairs, released the report and said that most of the South Asian countries faced the pressure of currency devaluation during the second half of 2023. Between July and October, the U.S. dollar gained about 6.5 percent against some currencies, and the dollar reached its highest level against 11 currencies.

In the report, the growth rate of the world economy is expected to be 2.7 percent this year.

The growth rate of Pakistani economy is expected to be 2 percent this fiscal year, United Nations