DUBAI: The International Monetary Fund (IMF) has forecast GDP growth rate at 1.5 percent for fiscal year 2021, against negative 0.4 percent in 2020. The IMF in its latest report, “World Economic Outlook (WEO), managing divergent recoveries” has projected GDP
According to a UN report, Pakistan’s population is expected to reach 242 million by 2025. With the expected trajectory in population, the government will need to address the growing housing and urban needs before the situation worsens. The haphazard growth
Agriculture is considered the backbone of Pakistan’s economy and accounts for18.9% of the GDP and employs 42.3% of labour force. The sector directly supports three-quarters of the country’s population, employs half the labour force and contributes a large share of
ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar said the robust growth (11.14 percent) of Large Scale Manufacturing (LSM) continued in December 2020. “The V shaped economic recovery in Pakistan is led by industries”, he said in a tweet.
ISLAMABAD: The National Assembly Special Committee on Agricultural Products has said that transformation and value addition is required in the agriculture sector for achieving growth rate of 7.5 percent by fiscal year (FY) 2027-28. The committee noted that the overarching
ISLAMABAD: Moody’s Investor Service has forecast that Pakistan’s economy will grow at a modest rate of 1.5 percent during the current fiscal year which will accelerate to 4.4% in the next fiscal year. “Economic activity will remain below pre-outbreak levels,
BEIJING: The International Monetary Fund has lowered its 2021 growth forecast for China to 7.9 percent, following a year of “significant human and economic costs” inflicted by the COVID-19 crisis. The figure is slightly below the 8.2 percent the IMF
ISLAMABAD: The economic growth rate for the current fiscal year is forecast to remain at 0.5 percent, said the latest projection by the World Bank. According to the Global Economic Prospects (GEP) 2021 issued by the World Bank, the recovery
BEIJING: China’s economy grew 4.9 percent year-on-year in the third quarter, sustaining its rebound from bruising virus lockdowns and moving closer to pre-pandemic levels. The world’s second-largest economy grew slightly below expectations in the July-September period, National Bureau of Statistics
MELBOURBE: Australia has entered its first recession since 1991 after the economy shrank seven percent in the second quarter, official figures showed as the country reels from the coronavirus pandemic. The Australian Bureau of Statistics said it was the fastest
ISLAMABAD: The government will target growth of 2.3% in fiscal year 2020-21 as it presents the budget for the upcoming fiscal year on Friday. The budget is being passed amid a changing economic landscape that would depend mainly on the
The reason the economy is important is when a country is unable to pay back its debts (called default in economic terms), the internal economy might be able to function but it will be never difficult to attract foreign investments.
BEIJING: China dropped its annual growth target for the first time on Friday and pledged more government spending as the COVID-19 pandemic hammers the world’s second-biggest economy. The omission from Premier Li Keqiang’s work report during this year’s meeting of
Prime Minister Imran Khan inaugurated his government’s flagship initiative, the Kamyab Jawan Programme, with a renewed commitment to support youth receiving employment and education. A similar programme was launched by the previous government but saw little success due to the