United Nations projects positive economic outlook for Pakistan

The United Nations, in its recent Economic and Social Survey of Asia and the Pacific region, has projected a promising outlook for Pakistan's economy. The report forecasts a real GDP growth of 2% in the current fiscal year, with a further increase to 2.3% in the next fiscal year. This positive trajectory is attributed to the country's efforts to secure external assistance, including an IMF agreement and support from bilateral partners such as China, Saudi Arabia, and the UAE.

Despite facing challenges like political unrest and natural disasters, Pakistan's economy is on a path of recovery. The UN survey anticipates a significant reduction in inflation from the current 26% to 12.2% in the next fiscal year, indicating a more stable economic environment.

The report also highlights the importance of addressing tax gaps in countries like Bangladesh, Pakistan, and Sri Lanka to bridge development financing shortfalls. It emphasizes the need for comprehensive improvements in socioeconomic development and public governance alongside tax revenue enhancement.

Earlier assessments by the World Bank and Bloomberg reports have echoed the UN's positive outlook on Pakistan's economy, further reinforcing the signs of economic stability in the country. The UN survey underscores the crucial role of long-term resources for developing countries, urging them to prioritize investments in education, health, and social welfare for sustainable growth.