Pakistan's economic woes deepen: World Bank issues stark warning, highlights challenges in months to come

Posted on:
Key Points

The World Bank has sounded the alarm on Pakistan's economic course in its latest biannual report, painting a grim picture of the nation's financial health...

The World Bank's biannual Pakistan Development Outlook report has highlighted significant challenges ahead, with over 10 million individuals at risk of falling into poverty amidst sluggish economic growth and soaring inflation...

The international lender is concerned about the South Asian nation's weak economic growth of just 1.8% and the skyrocketing inflation rate of 26% in the current fiscal year...

Looking ahead, the World Bank projects subdued economic growth for Pakistan, falling short of official targets..

With fiscal consolidation measures underway, the road to recovery remains uncertain for Pakistan, posing significant risks to its social and economic stability...

You might be interested in

Pakistan's current economic model is not working: World Bank

28, Dec, 23

Pakistan's current economic model is not working since it has fallen behind its peers, significant progress in poverty reduction has now started to reverse, and the benefits of growth have accrued to a narrow elite, Benhassine said.

World Bank raises India's inflation forecast to 5.9% for FY24 on higher oil prices, abnormal monsoon

03, Oct, 23

The World Bank has kept India's growth forecast unchanged at 6.3% for FY24, citing investment as a significant driver. However, it has revised its inflation projection to 5.9% from 5.2%. It also notes that inflation is likely to spike more than expected due to abnormal rainfall and the concern over oil prices.

Pakistan needs urgent foreign loans to avoid debt crisis, World Bank warns

07, Apr, 23

The World Bank in its flagship report 'Pakistan Development Update' warned Pakistan regarding serious dangers to its economic and debt viability. | World News

World Bank cuts India’s GDP growth forecast to 6.3% in FY24

04, Apr, 23

India’s GDP is expected to moderate to 6.3%, as against earlier estimate of 6.6%, due to moderation in consumption in FY24, the World Bank said in a report.

IMF slashes Pak's growth to 0.5% for FY23 | Key worrisome economic indicators

12, Apr, 23

IMF expected the economic growth to improve to 3.5 per cent in Pakistan, inflation to stay elevated at 22 per cent and the unemployment rate to slightly decline to 6.8 per cent for the next fiscal year.

India's FY25 GDP growth faces global headwinds: Axis Bank

11, Dec, 23

Despite upbeat forecasts for FY24, looming risks could make FY25 more challenging

Pakistan's budget forecasts modest growth amidst economic crisis, seeks IMF lifeline

10, Jun, 23

Pakistan is actively seeking additional bailout funds from the International Monetary Fund (IMF) to alleviate the growing economic strain

World Bank lowers India current fiscal year growth forecast to 6.3%

04, Apr, 23

India Business News: The World Bank on Tuesday lowered its forecast for India's economic growth in the current fiscal year that started on April 1 to 6.3% from 6.6% as it

World Bank pegs Indian economy to grow by 6.6% in FY25

02, Apr, 24

Inflationary pressures are expected to subside, creating more policy space for easing financial conditions, says South Asia Development Update.

World Bank says India’s growth to moderate to 6.3% in FY24 from 7.2% in FY23

03, Oct, 23

The bank maintained that India will remain one of the fastest-growing major economies in the world.