- Pakistan’s economy to grow by 3.49% this year, says central bank.
- Current account reported surplus for the first time in 17 years, says SBP.
- Economic rebound fueled by well-calibrated policy response, says central bank.
KARACHI: The central bank on Monday said it expects the country’s economy to shed the coronavirus shock this year and grow by 3.49% annually.
Pakistan suffered its first ever economic contraction last fiscal year, since 1952 when its economy contracted by 0.4%. The State Bank of Pakistan (SBP) said the country’s GDP is expected to rise to 3.49% as “post-Covid recovery underway since last summer has strengthened”.
The central bank had earlier forecast that the economy will grow by 3% in the current fiscal year, revising its target from over 2%. It had said that the current account had gone into surplus for the first time in 17 years, adding that the foreign account…