Business

LAHORE (Staff Report) – International Monetary Fund (IMF) has projected that Pakistani economy will grow by 4.5 per cent in 2016 and 4.7 per cent in 2017.

The IMF’s latest World Economic Outlook noted that however, growth in the Middle East, North Africa, Afghanistan and Pakistan region has weakened considerably because of further declines in oil prices and intensifying conflicts and security risks.

Meanwhile, the report said that uncertainty has increased, and risks of weaker growth scenarios are becoming more tangible.

The process of monetary policy normalisation in the United States, the world’s largest economy, is assumed to proceed smoothly, without sharp movements in long-term interest rates.