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World Bank lauds economic development in Pakistan, says Pakistan has improved credit rating

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ISLAMABAD: The World Bank has lauded economic development in Pakistan added Pakistan has improved credit rating very much. This is said by World Bank Country Director Rachid Benmessoud.

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According to WB, Pakistan’s economy is improving due to prudent monetary and fiscal policies, strong capital inflows and robust remittances. After the conclusion of visit of Mr. Rachid Benmessoud, Federal Finance Minister Senator Muhammad Ishaq Dar was called in and was appreciated for showing keen interest in the economic reforms in the country

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He added, Pakistan’s economy is improving as authorities have made progress with consolidating macroeconomic stability, strengthening public finances, and re-building foreign exchange buffers. As a result, immediate crisis risks have greatly receded, economic growth is gaining strength, inflation is declining, and macroeconomic vulnerabilities are gradually addressed.

Ishaq Dar said that the country has started to grow again and it is on right track due to far-reaching structural reforms and stabilization measures.

The two side officials also discussed the ongoing development project in various sectors funded by the Word Bank. Finance Minister also appreciated the role of WB Country Director for promoting financial assistance for development projects in Pakistan.

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