‘Pakistan’s Economic Growth To Reach 5% Per Year’, predicts WELT 2020

WELT keeps a record of economies across the world, and observes changes over the next 15 years, up to 2034.

0

The newest report of the WELT 2020 (World Economic League Table) has now been revealed. WELT is sketched by international economic forecasters, the London-based Centre for Economics and Business Research (CEBR).

WELT keeps a record of economies across the world, and observes changes over the next 15 years, up to 2034.

In 2019, Pakistani’s economic position was 44th out of 193. The US took the 1st place, China 2nd, Japan 3rd, Germany 4th, and India 5th. As per the reports, Pakistan will move from the 44th place to the 50th between 2019 and 2034 in the World Economic League Table.

In 2019, Pakistan’s adjusted GDP per capita of $5,872 made it a lower, middle-income country. Pakistan’s economy has carried its momentum from last year, as the GDP increased by 3.3% in 2019, down from 5.5% in 2018.

Growth Statistics:

Pakistan’s growth statistics are in accordance with its goal of decreasing political corruption and increasing the confidence in the country’s economic future. However, unemployment remained at 6.1% in 2019.

The deficiency of the labor market stands in contrast with the performance of the overall economy and it shows that a decrease in unemployment could help the country in a positive manner.
Over the last view years, per capita incomes have increased, with a steady rate of economic expansion along with the low rate of population growth, which averaged just 1.9% per year between 2014 and 2019.

Between 2020 and 2025, the CEBR shows that the annual GDP growth rate may increase by 4.2%. Economic growth is predicted to increase further to an average of 5% yearly. In last year’s report, the CEBR declared Pakistan 37th in 2028 and 27th in 2033.

What are your views on this? Share with us in the comments bar below.


Most viewed in last 24 hours

View More

24 گھنٹوں کے دوران 🔥

View More

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept

>