Web Desk — Pakistan economy will grow at 5.2 percent in 2017, a recent World Bank report has stated. The said increase will come as growth prospects continue to improve and inflation remains contained, reports 24 News HD.
“In Pakistan, economic activity expanded by 4.7 percent in 2016 and is expected to continue to grow at 5.2 percent in 2017 with growth prospects continuing to improve and inflation remaining contained,” said the South Asia Economic Focus report.
As per the report, the China Pakistan Economic Corridor (CPEC) projects have supported construction activity, which is expected to stimulate industrial sector growth, it added.
CPEC projects will help accelerating growth in the domestic construction industry and increase electricity generation, said the report.
it said adding that sustainable and inclusive growth and poverty reduction, will require greater private sector investment and the longer term development of infrastructure
Providing total picture of south Asia, the report also confirms that South Asia remains the fastest-growing region in the world, gradually widening its lead relative to East Asia. Regional GDP growth is expected to rise from 6.7 percent in 2016 to 6.8 percent in 2017, and 7.1 percent in 2018, it added.