Saturday, 17 January 2009
PAKISTAN: UN report predicts 3.8pc growth for Pakistan
RAWALPINDI, Jan 16: Pakistan is forecast to see a fall in its growth rate to 3.8 per cent in 2009 owing to continued political uncertainty, problems of law and order and severe electricity shortages, says a new United Nations economic survey released on Thursday.
The ‘World Economic Situation and Prospects 2009’ stated that economic growth in South Asia remained robust in 2008 at 7 per cent, despite a slow down in a number of countries in the region.
Growth was upheld by high commodity export earnings in the first half of 2008 in Pakistan, Bangladesh, Iran and Sri Lanka. However, the region’s GDP growth is expected to slow to 6.4 per cent in 2009 amidst the fallout from the global financial crisis. Read more