WB revises Pakistan's growth rate upward
World Bank has revised Pakistan's growth rate upward to 5.2 percent for fiscal year 2017 and 5.5 percent for 2018.
The bank previously estimated growth in the country's Gross Domestic Product 5 percent for 2017 and 5.4 percent for 2018 fiscal year.
The report "Global Economic Prospects; weak investment in uncertain times", states that the uptake in activity was spurred by a combination of low commodity prices, rising infrastructure spending, and reforms that lifted domestic demand and improved the business climate.
The report further mentioned the successful conclusion of IMF Extended Fund Facility programme aimed at supporting reforms and reducing fiscal and external sector vulnerabilities, lifted consumer and investor confidence.