Pakistan’s Economy Grew by 2 percent in 2008-09: World Bank Economic Update‏

Source: http://go.worldbank.org/ZTVKU33FB0

 

Though Pakistan's economic activity slowed significantly due to reduced domestic and global demand, initial estimates suggest that the economy still grew by 2 percent in 2008-09, according to the World Bank's latest Pakistan Economic Update. The country's stabilization efforts since November 2008, together with a decline in international commodity prices, have succeeded in reducing external imbalances, rebuilding foreign exchange reserves, and lowering inflation. However, the macroeconomic situation remains fragile and the medium-term outlook uncertain. The report warns that failure to raise revenues going forward would further heighten Pakistan's vulnerability to shocks, and jeopardize country's development efforts by limiting resources available for planned investments in human and physical infrastructure.

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