The International Monetary Fund (IMF) has warned of growing unemployment and inflation in Pakistan and predicts that Pakistan’s economic expansion rate will be 3.5 percent this year. Global inflation could be 8.8 percent. In Pakistan, the rate is 19.9 percent.
In the World Economic Outlook released by the International Monetary Fund (IMF), the growth of Pakistan’s GDP during the fiscal year of 2006 was 6 percent. It expects to rise to 3.5 percent in the coming year.
Base on the IMF forecast, the inflation rate is 19.9 percent, and unemployment excepts to rise from 6.2 percent to 6.4 percent. However, the report says that the current account deficit of Pakistan expect to be reduced to 2.5 percent, down from 4.6 percent. In the words of the IMF, the world’s economy is facing various problems, such as inflation, the conflict between Russia and Ukraine, and the Corona epidemic that proved difficult for the world economy.
The International Monetary Fund has further said in its annual report that the current global economy is experiencing the lowest growth rate since 2001.
