Pakistan Economic Outlook
May 26, 2020Forward-looking estimates for FY 2020 (July 2019 to June 2020) showed the economy slowed significantly, as the coronavirus outbreak weigh heavily on activity. Economic growth is set to fall to a multi-decade low as private consumption shrinks considerably amid widespread containment measures from March onwards. Recent data corroborates the overall estimate, with exports halving in April amid slackening demand for Pakistani products, while markedly lower imports point to reduced domestic demand. However, remittances held up well in the same month, despite difficulties in major economies around the world. In other news, Moody’s placed its B3 rating under review for downgrade due to growing concerns about the serviceability of Pakistan’s private-sector debt obligations amid severe economic and financial shocks.
Pakistan Economic GrowthGrowth is set to return in FY 2021, as domestic demand expands following the pandemic-influenced downturn in FY 2020. However, uncertainty regarding the full extent of the pandemic poses significant downside risks to the outlook, with the impact on the external sector and debt levels particular areas of concern. Our panelists see growth of 2.4% in FY 2021, which is down 0.5 percentage points from last month’s estimate, and 4.1% in FY 2022.
Pakistan Economy Data
5 years of Pakistan economic forecasts for more than 30 economic indicators.
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|Bond Yield||11.00||0.0 %||Jan 01|
|Exchange Rate||154.9||-0.05 %||Jan 01|
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