ADB shows Pakistani economy growing at higher rate than projected

Saturday, July 19th, 2014 1:58:50 by
Asian Development Bank

Asian Development Bank (ADB) in its 2014 Asian Development Outlook supplement shows Pakistani economy growing at a higher rate than projected for 2013-14 on Friday July 19, 2014. The report indicates that that economic growth in Pakistan is 4.1% which is above the forecast of 3.7% in April.  The outlook also suggest reduction in the inflation rate in Pakistan.

ADB has released its Asian Development Outlook Supplement for 2014 on Friday which has revised the economic growth of South Asian countries upward. The higher growth rate of Indian economy has raised the economic growth of South Asia from projected 5.7% to 6.1 % in 2014.

Pakistani economy is also growing at higher rate than expected. ADB Outlook Supplement states, “Pakistan’s economic growth has surprised on the high side in 2013-14.”

According to report, Pakistani economy grew at 4.1% in fiscal year 2013 which is higher than ADB projection of 3.7% in April.  The Bank also suggests that Pakistan would expect lower inflation rates as the result of the appreciating Pakistani currency in year 2014 and 2015.

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