JP Morgan points to improved economic situation in Pakistan: Farrukh

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Minister of State for Information and Broadcasting Farrukh Habib Thursday said that the JP Morgan had asked the investors for investing in Pakistan to reap benefits of its improved economic situation.

In a tweet, he said the world’s biggest institution of Investment and Financial services (JP Morgan), in its recent report, had predicted Pakistan’s GDP (Gross Domestic Product) growth at 4.7 percent for the fiscal year 2021-22. It also projected the volume of economy to around $329 billion during the next financial year, he added.

The minister said the report predicted decline in the fiscal deficit from current 7.1 percent to 5.9 percent of the GDP during the next financial year, and added that it would eventually bring down the GDP to debt ratio from 87.6 percent to 81.6 percent.