Islamabad, July 18, 2024: The Asian Development Bank in its recent outlook report predicted a 7 percent increase in Pakistan’s debt volume.
According to the report, the debt volume is expected to decrease from 77 percent to 70 percent of the country’s GDP. It also states that 62 percent of Pakistan’s revenue will be spent on debt repayment in the current fiscal year, with inflation predicted to remain high.
In the previous fiscal year, Pakistan’s growth rate was 2.4 percent, with agriculture playing a significant role in this economic growth. The report notes that inflation in Pakistan has decreased from 38 percent to 11.8 percent, leading to a reduction in policy rates.
The report highlights the need for Pakistan to address its debt and inflation issues to achieve sustainable economic growth.
