Some predictions about Future Economy of Pakistan In 2016 is try to summarize at this place. It is reported by the Pakistan Finance Minister Ishaq Dar that economic growth in the time of 2015/16 will rise to 5.5 percent from 4.2 percent in that time of 2014/15, and it will also continue to accelerate over the following two years. Reduced Inflation and Improved Security Situation: It is expected from the government that they will keep this aim to keep this inflation in “single digits” right over for the next three years. It is the need of the country now to keep on searching for enormous resources and also to enhance productive capacity so that this damaged economy can be repaired up. Government needs to create a favorable kind of investment climate and also the security situation should be the key determinant for our future flow of the investment. If there will be peace and stability in Afghanistan then there will be complete revival of Pakistan’s economy in 2016. For the information, Our GDP target for 2015/16 is 5.5 percent and for the next year, we have the target of 6 percent, and also for 2017/18 our GDP target is actually 7 percent. Let’s check out the more highlights of future economy of Pakistan and that too in 2016:
Investment Global Economic growth
It was seen that the direct and also indirect cost that has been incurred by Pakistan because of incidents of terrorism have amounted to US $106.98 billion which are equivalent to Rs.8,702.75 billion and this cost was during the last 14 years. It is this growth and Investment Global economic growth that has witnessed some kind of continuing signs of improvement in this year 2015 and we will continue to see these signs of improvement in 2016 too.
Agreements With China
Pakistan has made agreements with China to establish China Pakistan Economic Corridor. It will be this corridor that will be serving as a driver for connectivity, also then trade in the world will be expected to increase. Pakistan will be taking benefits just through multiple dimensions.
Trading partners of Pakistan are Increasing
It is too viewed that major of the trading partners of Pakistan are also growing along with better outlook. It will lead to have positive impact on our economy of Pakistan. This country has been improving quantitatively and also qualitatively as we have achieved growth by 4.24 percent and so far it is the highest achievement since 2008-09.
So, we will sooner see the jump in economic growth, inflation will be at lowest level, there will be improvement in tax collection, there will be reduction in fiscal deficit, and there will be significant increase in foreign exchange reserves. It is this agriculture sector that accounts for 20.9 percent of GDP that is must need to stable at this moment; In future economy this factor again plays an important role. So, this is the future economy of Pakistan and that too in 2016: