Finance Minister, Senator Mohammad Ishaq Dar, has congratulated the Prime Minister, Mr. Muhammad Nawaz Sharif, and the whole nation on international recognition of Pakistan’s economic turnaround and prospects, the latest addition to which is the most recent report published by PricewaterhouseCoopers (PwC), one of the world’s foremost financial services firms. The report projects that Pakistan will become the 20th largest economy by 2030 and the 16th largest economy by 2050.
The Finance Minister stated that Bloomberg has also declared Pakistan as the most underrated economy in the world, in its recent report titled ‘Pakistan’s Economy Is a Pleasant Surprise’. The report acknowledges that recent GDP growth has put Pakistan’s economy on a positive path. It also highlights that the rate of poverty in Pakistan has fallen by half since 2002, rate of terrorist deaths has declined by two-thirds over the past three years, inflation is low, and the country has staved off a foreign-exchange crisis and is rebuilding its reserves. It also acknowledges that Pakistan has graduated from the IMF program and is in a stable fiscal state.
The Finance Minister emphasized that these reports, and recent reaffirmation of Pakistan’s credit rating by Fitch earlier this week, are a continuation of the recognition by the international media and financial community of Pakistan’s economic development and progress. He said that Pakistan now stands well-placed to realize its true economic potential. He highlighted that the present government is fully focused on achieving higher, sustainable and inclusive economic growth.
Source: Ministry of Finance, Government of Pakistan