Lagging behind

THE IMF’s latest World Economic Outlook projects Pakistan’s economy to grow by 3.5pc in the current fiscal year, while average inflation climbs to 9.9pc. The current account is expected to slip into a deficit of 1pc of GDP. This forecast points to an economy that remains vulnerable despite recent gains in macroeconomic stability. The economy expanded by 3.6pc last year. Further slowdown matters for a country with a rapidly increasing population, entrenched poverty, and high unemployment. Growth at this pace will hardly raise incomes meaningfully or absorb new entrants into the labour market.…