In the last fiscal year, Pakistan faced the challenges of low growth and high inflation as compared to other South Asian countries.
The Asian Development Bank has said that in order to ensure economic improvement, Pakistan will have to continue reforms under the new IMF program.
The ADB Outlook Report says that in the new financial year, the economic growth rate is predicted to remain slow as it was in the last fiscal year.
The main reason for the slow economic growth was attributed to last year’s floods and strict monetary and fiscal policies.
According to the ADB, inflation in Pakistan was higher than expected last year.
Inflation also increased due to an increase in the demand of commodities.
According to the report, the growth rate in India is likely to be 6.7% and in Sri Lanka 1.3%. However, Bangladesh will grow at a rate of 6.5%.
