Pakistan’s economy improving despite challenges: JP Morgan
ISLAMABAD – International financial institution JP Morgan said that Pakistan s economy is improving but it is also facing challenges due to increase in imports in the coming year.
The world’s biggest institution of Investment and Financial services (JP Morgan) has released a report on the Pakistani economy, saying that recent months have seen a positive growth in the Pakistani economy. Rupee appreciated due to positive current account. The fiscal deficit is also falling short of GDP.
JPMorgan said the fiscal deficit for 2022 is expected to be 5.9 percent of GDP. In fiscal year 2021, the debt-to-GDP ratio is expected to be 8.9 percent, while in fiscal year 2022, the debt-to-GDP ratio is expected to reach 8.5 percent.