{"id":101201,"date":"2025-01-28T12:35:37","date_gmt":"2025-01-28T07:35:37","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=101201"},"modified":"2025-01-28T12:35:40","modified_gmt":"2025-01-28T07:35:40","slug":"pakistan-can-reach-8-growth-with-higher-investment-wb","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistan-can-reach-8-growth-with-higher-investment-wb.html","title":{"rendered":"Pakistan can achieve 8% growth with increased investment: WB"},"content":{"rendered":"\n

ISLAMABAD: Pakistan can significantly accelerate its annual growth rate to as high as 8% if it doubles its investment and better utilizes its assets and human capital, according to Martin Raiser, the World Bank\u2019s Vice President for South Asia.<\/p>\n\n\n\n

In an interview with Bloomberg, Raiser emphasized the need for Pakistan to simplify its regulations and make its economic outlook more predictable to attract more investment. He stated that without a substantial increase in investment, the country would struggle to achieve its growth potential.<\/p>\n\n\n\n

\u201cIf you invest 12% of gross domestic product (GDP), don\u2019t expect miracles,\u201d Raiser said. \u201cYou\u2019re not going to grow. It\u2019s as simple as that.\u201d<\/p>\n\n\n\n

Read:<\/strong> World Bank reaffirms support for Pakistan\u2019s economic reforms<\/a><\/p>\n\n\n\n

Pakistan\u2019s average investment-to-GDP ratio has been falling below 15% in recent years, the lowest in the region. As a result, the country’s economy is projected to grow by only 3% this year, according to a Bloomberg survey of economists.<\/p>\n\n\n\n

The World Bank has recently approved a 10-year partnership framework for Pakistan, aimed at helping the government stabilize the business climate. Raiser stressed that creating a more stable and predictable economic environment is crucial for boosting investment and achieving long-term growth.<\/p>\n\n\n\n

Pakistan has struggled with boom-and-bust economic cycles in recent years, driven by imbalanced fiscal policies and rising debt. A significant portion of government revenue is spent on debt repayments and defense, leaving little for critical sectors like health and education. Raiser pointed out that these challenges need to be addressed in order to unlock the country’s full economic potential.<\/p>\n\n\n\n

Read<\/strong>: World Bank pledges USD 2b for flood recovery projects<\/a><\/p>\n\n\n\n

Prime Minister Shehbaz Sharif has set a target of 3.6% growth by the end of June 2025, following the country’s narrow avoidance of an economic default last year. As part of a three-year loan agreement with the International Monetary Fund (IMF), the government has committed to raising revenue and restructuring state-owned enterprises to plug financial leaks.<\/p>\n\n\n\n

Raiser also highlighted the need for Pakistan to increase its tax-to-GDP ratio to 15%. He called this goal \u201ceminently doable\u201d through measures such as reducing exemptions for special interests, cracking down on tax evasion, and modernizing the tax collection system through digitalization.<\/p>\n\n\n\n

With reforms aimed at increasing investment and stabilizing fiscal policies, Pakistan has the potential to boost its economic growth and improve the living standards of its population.<\/p>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD: Pakistan can significantly accelerate its annual growth rate to as high as 8% if it doubles its investment and better utilizes its assets and human capital, according to Martin Raiser, the World Bank\u2019s Vice President for South Asia. In an interview with Bloomberg, Raiser emphasized the need for Pakistan to simplify its regulations and make its economic outlook more predictable to attract more investment. He stated that without a substantial increase in investment, the country would struggle to achieve its growth potential. \u201cIf you invest 12% of gross domestic product (GDP), don\u2019t expect miracles,\u201d Raiser said. \u201cYou\u2019re not going to grow. It\u2019s as simple as that.\u201d Read: World Bank reaffirms support for Pakistan\u2019s economic reforms Pakistan\u2019s average investment-to-GDP ratio has been falling below 15% in recent years, the lowest in the region. As a result, the country’s economy is projected to grow by only 3% this year, according to a Bloomberg survey of economists. The World Bank has recently approved a 10-year partnership framework for Pakistan, aimed at helping the government stabilize the business climate. Raiser stressed that creating a more stable and predictable economic environment is crucial for boosting investment and achieving long-term growth. Pakistan has struggled with…<\/p>\n","protected":false},"author":18,"featured_media":100657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[62178,59726,46247,60626,7796,59631,61435,62179,62175,34475,62176,59041,62177,32479,4438],"persona":[],"class_list":{"0":"post-101201","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-economic-forecast","9":"tag-economic-reform","10":"tag-economic-stability","11":"tag-fiscal-policy","12":"tag-gdp","13":"tag-imf-loan-program","14":"tag-investment-climate","15":"tag-investment-growth","16":"tag-martin-raiser","17":"tag-pakistan-economy","18":"tag-pakistan-growth-potential","19":"tag-pakistan-investment","20":"tag-prime-minister-shehbaz-sharif","21":"tag-tax-to-gdp-ratio","22":"tag-world-bank","23":"cat-15016-id"},"acf":[],"yoast_head":"\n'Pak can reach 8% growth with more investment' - 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