ISLAMABAD – The Asian Development Bank (ADB) has released a report on economic prospects across Asia, warning that Pakistan may face higher inflation and weaker-than-target economic growth.
According to the report, Pakistan’s average inflation rate could increase from around 1% to 8.3%, while economic growth in the ongoing fiscal year is expected to remain below the government’s 4% target.
The ADB estimated South Asia’s overall economic growth at 6.0%, with India projected to record the highest growth rate in the region at 6.6%, followed by Bhutan.
The report projected Sri Lanka’s economic growth at 4%, while Nepal’s growth rate was estimated at 3.9%. Afghanistan’s economy is expected to expand by 2.3%, whereas Maldives is forecast to see growth of around 1%.
The ADB said economic performance across South Asian countries would depend on factors including domestic reforms, investment levels, exports and global economic conditions. Despite varying challenges, the report said the region is expected to maintain an overall growth trajectory.
