Pakistan’s GDP growth lags behind Nepal, Maldives this year: UN

There is a bad news for Pakistan, which is going through a period of humiliation. An economic report from the United Nations predicts that in 2019 Pakistan GDP estimates could be 4.2 percent and 4 percent in 2020. The big thing is that in the report it has been said that Pakistan’s GDP can be behind Nepal, Bangladesh and the Maldives.

A report released by the United Nations Economic and Social Commission for Asia and Pacific (ESCAP) , titled ‘Ambitions beyond Growth’. In that annual Economic and Social Survey of 2019, it has been stated that in 2019 Pakistan’s GDP is the lowest in Asia-Pacific region Estimated to be 4.2 percent. While this year, the GDP of Bangladesh is 7.3 percent, India’s 7.5 percent, Maldives and Nepal’s 6.5 percent.

It has been said in the report that because of the major fiscal and current account deficits, increases pressure on the currency and Pakistan’s economy is facing a serious balance of payment difficulties.

According to ADB, The economic growth rate (GDP) of Pakistan is facing a financial crisis is a sign of a great decline. Referring to “comprehensive economic challenges”, the Asian Development Bank (ADB) said that the growth rate of Pakistan is projected to decline from 5.2 percent in FY2018 to 3.9 percent in 2019. On the other hand ADB has said that India will be the world’s fastest growing economy this year with growth of 7.2%.

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