Pakistan's GDP Growth: Revised Estimates and Economic Outlook

Pakistan's GDP growth rate was updated to 1.73% for the second quarter of the financial year, with an upgraded first-quarter estimate of 1.34%. The announcement follows an IMF deal for $1.3 billion in funding, aiming to boost economic stability and growth momentum.

Pakistan's government has updated the country's provisional GDP growth rate to 1.73% for the second quarter of the current financial year, ending June 30. The revision comes alongside an upgrade for the previous quarter's growth estimate, which the National Accounts Committee adjusted from an earlier 0.92% to 1.34%, citing improved performance in the services sector.

This announcement occurred just hours after Pakistan secured a $1.3 billion financing deal from the International Monetary Fund (IMF). The IMF commended Pakistan's efforts towards achieving macroeconomic stability, providing a financial boost aimed at reinforcing the country's economic framework.

Pakistan's central bank has set a GDP growth target of 2.5% to 3.5% for the full fiscal year, anticipating further momentum in economic activities as the year progresses. This positive outlook underlines the country's determination to foster a resilient and growing economy.

(With inputs from agencies.)