ISLAMABAD: Pakistan’s economic growth rebounded to 3.9 percent in fiscal year 2021 and is expected to reach 4 percent in FY2022 as business activity gradually resumes in the second year of the coronavirus disease (Covid-19) pandemic, the Asian Development Bank (ADB) said on Wednesday. According to the Asian Development Outlook (ADO) 2021 Update, ADB’s annual flagship economic publication, Pakistan’s economy is expected to continue recovering in FY2022, supported by stronger private investment, improving business activity, a steady vaccine rollout, and economic stimulus measures for FY2022. Yet, significant uncertainty clouds the economic outlook over the course of the pandemic in Pakistan and worldwide. “Pakistan’s economy is on the path to recovery, supported by promising growth in the industry and services sectors,” said ADB Country Director for Pakistan Yong Ye. TLTP
