ISLAMABAD – A report by management consultancy PricewaterhouseCoopers has forecasted that Pakistan could outshine the Canadian economy by 2050.
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‘By 2050, emerging economies such as Mexico and Indonesia are likely to be larger than the UK and France, while Pakistan and Egypt could overtake Italy and Canada,’ PWC said in a report published on Tuesday.
According to multiple media reports, the findings based on Gross Domestic Product (GDP) purchasing power parity (PPP) terms also forecasts India will replace the United States as the world’s second largest economy after China by 2050.
According to the report, Canada is currently ranked as the 17th largest economy, but by 2030 the country will slip to No. 18 and by 2050 to No. 22.
Moreover, Egypt will move to No. 15 place and Pakistan would follow it.
Despite the Canadian economy, currently passing through a rough patch, the country’s GDP will roughly double to US$3.1 trillion by 2050 from its current level.
It is relevant to mention that PWC report follows a report by Bloomberg in which Pakistan’s economy has been declared as the most underrated economy and a pleasant surprise.