{"id":73288,"date":"2021-01-08T12:42:46","date_gmt":"2021-01-08T07:42:46","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=73288"},"modified":"2021-01-08T12:42:51","modified_gmt":"2021-01-08T07:42:51","slug":"wb-predicts-growth-rate-for-pakistan","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/wb-predicts-growth-rate-for-pakistan.html","title":{"rendered":"WB predicts growth rate for Pakistan in 2021"},"content":{"rendered":"\n<p>Islamabad: The World Bank (WB) has issued a report titled \u201c2021 Global Economic Prospects\u201d that takes stock of the dwindling economic situation around the world in the aftermath of the coronavirus outbreak \u2014 with the report forecasting Pakistan\u2019s growth rate at 0.5% during (fiscal year) FY2020-21, according to a news source published on January 6.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-receives-505mn-from-world-bank-in-budgetary-support.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP receives 505mn from World Bank in budgetary support<\/a><\/p>\n\n\n\n<p>According to the WB report, Pakistan\u2019s economic growth contracted by 1.5% during the last fiscal year, owing to the steps taken by the government to control the pandemic. Additionally, the report acknowledged the measures taken to ensure the use of formal channels for transferring remittances. It pointed out that the inflow remained robust during 2020 and that Pakistan and Bangladesh experienced double-digit growth due to the use of formal channels.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/world-bank-increase-social-sector-financing-pakistan.html\" target=\"_blank\" rel=\"noreferrer noopener\">World Bank to increase social-sector financing for Pakistan<\/a><\/p>\n\n\n\n<p>Regarding the country\u2019s <a href=\"https:\/\/www.zameen.com\/news\/pakistans-b-credit-rating-remain-unchanged-fitch-ratings.html\" target=\"_blank\" rel=\"noreferrer noopener\">economic recovery<\/a>, the report stated that Pakistan was expected to experience \u2018restrained growth of 1.3% over the next two years\u2019. It further cautioned against the limited prospects for a strong rebound in the services\u2019 sector, as it could result in aggravated poverty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The World Bank (WB) has issued a report titled \u201c2021 Global Economic Prospects\u201d that takes stock of the dwindling economic situation around the world in the aftermath of the coronavirus outbreak \u2014 with the report forecasting Pakistan\u2019s growth rate at 0.5% during (fiscal year) FY2020-21, according to a news source published on January 6. Read: SBP receives 505mn from World Bank in budgetary support According to the WB report, Pakistan\u2019s economic growth contracted by 1.5% during the last fiscal year, owing to the steps taken by the government to control the pandemic. Additionally, the report acknowledged the measures taken to ensure the use of formal channels for transferring remittances. It pointed out that the inflow remained robust during 2020 and that Pakistan and Bangladesh experienced double-digit growth due to the use of formal channels. Read: World Bank to increase social-sector financing for Pakistan Regarding the country\u2019s economic recovery, the report stated that Pakistan was expected to experience \u2018restrained growth of 1.3% over the next two years\u2019. It further cautioned against the limited prospects for a strong rebound in the services\u2019 sector, as it could result in aggravated poverty.<\/p>\n","protected":false},"author":75,"featured_media":61439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15017],"tags":[44869,44870,21890],"persona":[],"class_list":{"0":"post-73288","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-notices-announcements","9":"tag-wb-predicts-growth-rate-for-pakistan-in-2021","10":"tag-wb-report","11":"tag-world-bank-wb","12":"cat-15016-id","13":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WB predicts growth rate for Pakistan in 2021 - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The World Bank (WB) has issued a report titled \u201c2021 Global Economic Prospects\u201d that takes stock of the dwindling economic situation around the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/wb-predicts-growth-rate-for-pakistan.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WB predicts growth rate for Pakistan in 2021 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The World Bank (WB) has issued a report titled \u201c2021 Global Economic Prospects\u201d that takes stock of the dwindling economic situation around the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/wb-predicts-growth-rate-for-pakistan.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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