Pakistan, March 18 -- State Bank of Pakistan (SBP) has lowered its projection of real GDP growth for FY20 to 3.0 percent from 3.5 percent in light of the recent domestic and global developments on the economic front due to the coronavirus pandemic.
The central government pointed out that the economy is expecting a modest recovery next year provided that the spillover impact of the coronavirus outbreak on global trade and financial markets is moderate and short-lived.
In such a scenario, the export slowdown and market volatility should be contained while the benign growth and inflation impact of lower global commodity prices would dominate. Under an adverse scenario, a more prolonged and severe phase of weak demand in Pakistan's major expo...