Pakistan’s GDP growth shows positive momentum, reaching 1.73% in Q2
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The government announced on Wednesday that Pakistan’s GDP growth rate for the second quarter of FY2024-25 reached 1.73%. This positive growth came despite ongoing challenges. The National Accounts Committee also revised the first quarter GDP estimate up to 1.34%, from 0.92%, due to stronger-than-expected growth in the services sector.
The update was released just hours after Pakistan secured a deal with the International Monetary Fund (IMF) for $1.3 billion in new financing. The IMF praised Pakistan’s progress toward improving macroeconomic stability, offering support for future economic recovery.
Pakistan’s central bank maintained its full-year GDP growth target at 2.5% to 3.5%. The bank expects economic activity to gather momentum in the coming months. This positive outlook suggests potential improvements, despite challenges faced in the first half of the fiscal year.
Topline Securities reported that the revised growth for Q1FY25 stands at 1.34%, compared to earlier estimates of 0.92%. The growth for the first half of FY2025 averaged 1.54%, compared to 2.33% in the first half of FY2024.
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