Pakistan accounts for nearly half of region’s ex...

Summary

• The World Bank has projected Pakistan’s economic growth at 3.8 per cent for the current fiscal year, while warning that poverty remains a major challenge.
• The World Bank said Pakistan’s poverty rate at the $3-a-day threshold increased by 6.4 percentage points between 2018-19 and 2024-25.
• The bank expects Pakistan’s economy to grow from 3.2 per cent in fiscal year 2025 to 3.7 per cent in FY2026 and 3.8 per cent in FY2027.

AI Generated Summary

Pakistan accounts for nearly half of the people living in extreme poverty across the Middle East, North Africa and Afghanistan-Pakistan region, according to a new World Bank assessment.

The World Bank has projected Pakistan’s economic growth at 3.8 per cent for the current fiscal year, while warning that poverty remains a major challenge. The lender said the region is the only one in the world where poverty has remained above pre-pandemic levels and continues to increase.

According to the report, Pakistan represents around 48 per cent of the region’s population living below the poverty line of $3 a day. Afghanistan, Syria and Yemen together account for another 47 per cent.