Islamabad, June 9 — Pakistan’s economy would actually perform even worse than what previous estimates had warned about, the World Bank, citing the Covid-19 fallout, forecast on Monday.
In its latest report, Global Economic Prospects, the Washington-based lending agency assesses the country’s economy was likely to go into the red this fiscal year and would be unable to recover even next year. It forecast a negative GDP growth of -2.6pc for the current fiscal year (2019-20) and -0.2pc during the next (20-21).This would be an even poorer performance when seen on the basis of World Bank’s April 12 forecast of -2.2pc and -1.3pc growth and an eventual recovery to 0.9pc.The “output is expected to contract sharply in the fourth quarter of FY20, bringing the overall growth to -1.3pc”, the WB had said on April 12.For any query with respect to this article or any other content requirement, please contact Editor at contentservices@htlive.com
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