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Pakistan’s Economy is Expected to Grow by 3%

Pakistan’s economic growth rate is expected to be 3% this fiscal year, according to Dr. Reza Baqir, Governor of the State Bank of Pakistan (SBP).

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Governor of the SBP, Dr. Reza Baqir, stated that the economy is on the right track and will improve in the coming years; the economy will expand by 4% next fiscal year.

In an interview with Khaleej Times, the governor stated that, despite the challenging global climate, Pakistan’s economy has the potential to develop. The Governor of the SBP stated that Pakistan’s economy has the potential to expand rapidly.

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Despite the coronavirus pandemic, he claims that economic indicators are high this year.

According to Baqir, the central bank provided the private sector with Rs450 billion in liquidity through its Temporary Economic Refinance Facility (TERF) to absorb the coronavirus shock, as well as another Rs 240 billion in working capital to prevent layoffs and job losses.

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