Pakistan's Path to Economic Resilience Amid Challenges
The World Bank reports Pakistan's economy grew by 3% in FY25, with expected stagnation in FY26 due to floods impacting agriculture. Emphasizing reforms for sustained growth, the report highlights the need for fiscal consolidation and export expansion to ensure resilience against environmental and economic challenges.
- Country:
- Pakistan
The World Bank has released its latest report, 'Pakistan Development Update: Staying the Course for Growth and Jobs,' revealing a 3% growth in Pakistan's economy during fiscal year 2025. The report projects the same growth rate for FY26, emphasizing industrial recovery and service sector expansion.
The report highlights concerns over recent floods impacting agriculture and urban areas, affecting economic stability. Positive industrial and service sector expansion is offset by underperforming agriculture due to climatic challenges.
Strengthening fiscal policies and comprehensive reforms are deemed crucial for sustaining growth, with a focus on exports and reducing the state's economic role. The report warns that growth remains vulnerable to global and environmental factors as Pakistan works towards fiscal consolidation.
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