IMF bumps Pakistan's GDP growth rate projection for 2017 to 5.27

KARACHI: The International Monetary Fund (IMF) has increased the projections of Growth Domestic Product (GDP) growth for Pakistan to 5.277 compared to April’s figure of 5.

The IMF on Tuesday released its October projections for global growth, bumping its forecasts, saying an uptick in the world economy would likely gather pace into next year.

Pakistan's economic resilience praised in IMF report

Report said that while the successful implementation of business climate has continued, some renewed accumulation of arrears in the power sector has been observed

The IMF predicted a 35 per cent increase in the current account deficit to Rs465 billion from its April forecast of Rs344 billion. 

The deficit projections have been doubled for 2018 and 2019 in the October forecast as compared to April estimates.

Inflation according to October projections will be down by 0.1 per cent from April estimates.

Overall, the projections for various economic indicators remain positive.