The Asian Development Bank (ADB) has projected Pakistan’s Gross Domestic Product (GDP) growth to reach 4 percent in the fiscal year 2021-22 (FY22) as business activity gradually resumed in the second year of the Covid-19 pandemic. According to the Asian Development Outlook 2021, the growth forecast witnessed recovery in private investment as consumer confidence and business actively improved amid the ongoing vaccination rollout and various economic stimulus measures announced in the budget for 2021-22.
The report noted that investment was expected to strengthen as global sentiment improves and the International Monetary Fund-supported stabilization program continues to progress. On the supply side, the outlook for agriculture is encouraging in view of the government’s ambitious Agriculture Transformation Plan. “The plan aims to achieve food security for a growing population by expanding land under cultivation, revamping extension services, boosting water-use efficiency, developing postharvest storage and food processing plants, augmenting bank credit, and introducing the ‘Kissan Card’ as a digital wallet for the direct and swift transfer of subsidies for seed, pesticides, and fertilizer.”
Similarly, steady normalization of global merchandise trade, improved market sentiment and stronger business and consumer confidence was expected from the continuing rollout of the Covid-19 vaccination program and an accommodative monetary policy, according to the report.S. dawn.com
Saturday, April 25, 2026
