'Pakistan needs careful economic management to get stability'
The poverty headcount in country is estimated to have reached 39.4% in FY23, says report
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The poverty headcount in country is estimated to have reached 39.4% in FY23, says report
ISLAMABAD —Pakistan’s economy slowed sharply in FY23 with real GDP estimated to have contracted by 0.6%. According to the World Bank’s latest Pakistan Development Update: Restoring Fiscal Sustainability, released today, the decline in economic activi
This is 'predicated on the robust implementation of the IMF Stand-By Arrangement, new external financing and continued fiscal restraint'
Expects poverty reduction to be gradual in the medium term, owing to weak growth and lower labor income, persistent inflation (especially for food and energy), and lower remittances
Says Pakistan's economy slowed sharply in FY 2023, emphasises need for "careful economic management" to maintain macroeconomic stability.