Fiscal reforms, improve business environment helped growth in Pakistan: IMF Regional Outlook


WASHIGNTON, April 26 (APP) Reforms to reduce fiscal deficit and improve business environment supported economic recovery in some regional countries including Pakistan, according to the Regional Economic Outlook by the IMF for Middle East, North Africa, Afghanistan and Pakistan.
Growth in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region remains subdued owing to persistently low oil prices and deepening regional conflict, said the IMF in it regional assessment launched in Dubai. Growth in the regions under review averaged 3.75 percent in 2015, compared to 3 percent over 2011-14.
Lower oil prices, less drag from fiscal consolidation, and improved confidence owing to progress with recent reforms including reforms to reduce fiscal deficits and improve the business environment (Morocco, Pakistan) supported the recovery, helping to counteract the negative impact of rising security risks and spillovers from regional conflicts, according to the outlook.