World Bank and the IMF Predict Pakistan’s Economy to Shrink in 2020

The World Bank and the International Monetary Fund (IMF) have warned that Pakistan’s economy will shrink in the range of 1.3% to 2.2% in the current fiscal year, while the State Bank of Pakistan also believes that it may have to revise the country's growth indicators downwards.

It is almost certain that exports would not improve during the final quarter of the current fiscal year, as many large-scale manufacturing industries have still not started operating due to the restrictions imposed to counter the spread of COVID-19. Mian Anjum Nisar, President of the Federation of Pakistan Chambers of Commerce and Industry, stated that many countries have cancelled export orders while Karachi Chamber of Commerce and Industry...