The International Monetary Fund (IMF) has projected Pakistan\u2019s economy to grow at 2.5% in 2024, a private news channel reported World Economic Report.<\/p>\n
In its World Economic Outlook report published on Tuesday, the global lender said that inflation in Pakistan will fall from 29.2% in 2023 to 23.6% in 2024.<\/p>\n
The report also projected the unemployment rate in Pakistan to fall from 8.5% to 8% in the upcoming year. However, the current account deficit will rise from 0.7% to 1.8% in 2024.<\/p>\n
Meanwhile, the IMF painted a bleak picture of the global economy but said that it was slowly recovering.<\/p>\n
Global economic outlook<\/strong><\/p>\n The International Monetary Fund (IMF) on Tuesday announced that it kept its GDP growth forecast for the global economy constant at 3% for 2023, but lowered its expectation for 2024 by 0.1 percentage points to 2.9%.<\/p>\n The institute\u2019s growth expectation for the advanced countries were unchanged at 1.5% and 1.4% for 2023 and 2024, respectively, the IMF said in a report.<\/p>\n Emerging markets\u2019 GDP growth is expected to be at 4% for both 2023 and 2024, while the fund\u2019s previous forecast, in July, was at 4.1% for 2024.<\/p>\n The euro area is expected to grow 0.7% in 2023, down 0.2 percentage points, and 1.2% in 2024, down 0.3 points.<\/p>\n