IMF predicts economic recovery in Pakistan next year.
WASHINGTON -- A gradual recovery in Pakistan is expected in the fiscal year 2021 as the country's economy reopens, says a report released by the InterAnatioAnal Monetary Fund (IMF).
The report - 'Policy ActAions Taken by Countries' - reviews various steps PakisAtan has taken since March to deal with the Covid-19 crisis.
The IMF notes that the near-term economic outlook of the country has worsened notably, and growth is estimated at -0.4 per cent in FY 2020.
According to this report, since mid-April, the federal government, in coordination with the provinces, has been gradually easing lockdown arrangements, by allowing 'low-risk industries' to restart operation and 'small retail shops' to reopen with newly developed Standard Operating Procedures.
In addition, restrictions on domestic and international movements have been lifted and educational institutes are expected to restart on July 15. 'Selective' lockdown arrangements remain in place, through the closure of shops on weekends and the sealing of specific areas of high risk.
A relief package worth Rs1.2 trillion was annouAnced on March 24, which is now being implemented and will be pursued in the fiscal year 2020-21. The report then details various measures taken by both federal and provincial governments to ease the economic impact of this pandemic.
Key measures...
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