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Macroeconomic adjustments required to correct twin deficits: WB

Date: October 9, 2018 Author: Web Desk Category: General Tags: Short URL Comments: 0

World Bank has said that immediate macroeconomic adjustments are required for Pakistan to correct the large twin deficits.

The Bank in its latest edition of the South Asia Economic Focus, Budget Crunch, finds that appropriate policy responses to correct these imbalances and increased buffers to absorb future shocks will reduce these risks and support a positive growth outlook.

Giving future outlook, the WB report said growth is expected to recover in FY-20 and reach 5.2 percent as macroeconomic conditions improve.

Similarly, inflation is expected to rise to 8 percent in FY-2019 and remain high in FY-2020, driven by exchange rate pass through to domestic prices and a moderate increase in international oil prices.

Source: Radio Pakistan