Pakistan Economy Set to Grow

Pakistan’s economy is all set to grow further in the current year due to government’s pro-growth policies as indicated in its economic indicators, APP reported. According to a report, Pakistan continued its march from being a frontier economy to becoming an emerging market. It said 2017 may be the best year in the country’s 70-year-long history. These changes are likely to take place from increase in foreign investment to the auto industry. Although gross domestic product growth forecasts by International Monetary Fund, World Bank and others may vary, but Pakistan’s GDP is likely to grow by 4.7% this year. The annual GDP may increase from $270 billion to around $300 billion and for the first time, the purchasing power parity may cross the $1 trillion mark, it added. It said Pakistan is currently 40th largest economy in the world and its ranking may improve by a point or two.