IMF forecasts 3.5% growth for Pakistan in FY25, slightly below govt\'s target

The International Monetary Fund (IMF) has forecasted that Pakistan’s economy will grow by 3.5% in the fiscal year 2024-25 (FY25). This projection falls slightly below the Pakistani government’s target of 3.6%, which was announced in the latest budget, and comes amidst a backdrop of sluggish global economic activity. According to Pakistan's economic survey, the country’s GDP grew by only 2.4% in the fiscal year 2023-24, failing to meet the 3.5% target set by the government. Pakistan’s economic landscape has been marred by chronic mismanagement, compounded by the COVID-19 pandemic, disruptions from the Ukraine war, and devastating floods in 2022 that impacted a third of the country.