WB lauds Pakistan’s efforts in achieving 10-year high growth of 5.3% in current year

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—File Photo


—File Photo

WASHINGTON: World Bank says it will continue to support Pakistan to implement broad economic reforms and address current risks towards achieving its development targets.

The statement was made after discussions with a Pakistan delegation led by Secretary Finance, Shahid Mahmood and World Bank Vice President, South Asia Region, Annette Dixon in Washington.

The delegation discussed recent performance in revenue mobilization, exports and remittances.

On the macro-economic outlook, World Bank lauded Pakistan efforts in achieving 10-year high growth of 5.3 percent in 2017.

The Bank management also clarified to the delegation that media reports referring to external financing needs of 9 percent of GDP or 31 billion dollars were an extrapolation on data published in the recent South Asia Economic Focus report.

The Bank agreed with the delegation that foreign portfolio investments are not part of the external financing needs of Pakistan.—Radio Pakistan