Poverty rate in Pakistan likely to drop by one percent next year
Islamabad:
The World Bank says that there is a risk of a slowdown in economic recovery in Pakistan after the recent floods and that Pakistan's economic growth rate is estimated to be limited to 2.6% in the current fiscal year 2025-26 due to flood damages.
According to details, the World Bank has released a report on the economic situation of Pakistan, according to which Pakistan's economic growth rate is estimated to be limited to 2.6% in the current fiscal year, while the government has set a target of 4.2% for economic growth in the current fiscal year. Pakistan will grow at a rate of 3.6% in the next fiscal year.
According to the World Bank, there is a risk of a slowdown in economic recovery in Pakistan after the recent floods, with flood losses likely to reduce real GDP growth to 2.6% in the fiscal year 2025-26. Inflation in Pakistan could exceed 7% in the current fiscal year.
According to the report, agricultural production in Punjab has decreased by 10 percent, affecting the crops of rice, sugarcane, cotton, wheat and maize. The fiscal deficit is expected to increase by 5.5 percent due to the disruption in food supplies, and economic growth will depend on the revival of the agricultural sector.
The World Bank says that the poverty rate in Pakistan is likely to decrease by one percent next year. The poverty rate is likely to be 44 percent in the current fiscal year and 43 percent in the next fiscal year.
The report says that economic recovery is possible through increased revenues, reduced expenditures, and agricultural revival. Exports are expected to increase due to tariff reductions under the 5-year reform plan. Exports have declined due to floods, but remittances and low oil prices will help balance the situation.
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