The World Bank’s Vice President for South Asia, Martin Raiser, has expressed confidence that Pakistan has the potential to become a $1 trillion economy by 2035. However, he emphasized that achieving this goal would require Pakistan to maintain a consistent annual growth rate of 7%.
Raiser discussed the government’s 5-year economic recovery plan, stressing that the country’s path to reaching the $1 trillion economy target depends on effectively implementing critical economic reforms. He also highlighted the World Bank’s commitment to supporting Pakistan through financial assistance, with $20 billion in loans or financial aid promised over the next decade under the Country Partnership Framework.
Before making this commitment, the World Bank engaged with opposition and political parties to ensure broad-based support for the plan. While the financial assistance figure is an estimate, Pakistan has the opportunity to secure concessional loans through various World Bank programs.
On the topic of foreign investment, Raiser pointed out that Pakistan should focus on tapping into its existing resources and strengths. He emphasized that there are significant opportunities within the country that could attract additional investment and drive economic growth.
