The International Monetary Fund (IMF) predicts Pakistan’s GDP growth rate of 4% in 2022, up from 3.9% in 2021. The IMF’s World Economic Prospects (WEO) report titled “Recovering from health problems caused by the pandemic, supply disruptions and price pressures,” projected Pakistan’s unemployment rate of 4.8 percent in 2022, down from 5 percent in 2021.
The fund expected inflation to be 8.5% in 2022, down from 8.9% in 2021. However, the report forecast consumer prices to rise to 9.2% at the end of 2022. The global economy is estimated to grow to 5.9% in 2021 and 4.9% in 2022. IMF has downgraded its estimates for both 2021 and 2022.
The downgrade to 2021 reflects a downgrade in advanced economies – partly due to supply disruptions – and low-income developing countries, mainly due to the easing of the pandemic. This was offset in part by a more favorable short-term outlook for some commodity-exporting emerging market economies.