S&P Raises Pakistan’s credit rating, Says financial system is extra steady Now

usual and poor has revised Pakistan’s long-time period credit rating from B poor to B nowadays and stated that u . s . a .’s higher policy making has impacted nationwide economic system’s performance and increase positively.

S&P mentioned that Pakistan’s democratically elected govt has helped usa’s economic stability, due to reform software that govt initiated.

It affirmed the ‘B’ short-term score and said the outlook on the lengthy-time period score was steady.

agency, on different palms, warned that Pakistan’s structural weaknesses live on, corresponding to slim tax base and safety risks, which must be fixed for long-time period balance.

It mentioned that present infrastructure and taxing regime has effected negatively on the industry local weather.

S&P Forecast:

  • Pakistan’s GDP per capita to be US$1,500 in 2016
  • reasonable annual GDP growth estimated to be 5% over 2016-2019, up from prior estimate of four.7%
  • Pakistan’s gross basic govt debt to fall under 60% of GDP through 2018

“regardless of the up to date terrorist assaults in Quetta, then again, we see even these structural weaknesses as having more advantageous over the past few years. blended, these factors inspired the upgrade,” it mentioned in a commentary.

The agency forecasts reasonable annual GDP growth to five.5 per cent within the next three years from the present growth fee of 4.7 per cent.

“This revision displays more suitable development and services sector activity, low-cost oil and finance, and high funding associated with the China-Pakistan economic corridor (CPEC)”, concluded the record.

S&P Raises Pakistan’s credit rating, Says financial system is extra steady Now

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