Pakistan Development Update, May 2017 : Growth - A Shared Responsibility

Pakistan's economy continues to grow strongly, emerging as one of the top performers in South Asia. Beneath the surface, however, a number of warning signs are emerging. Revenue growth is slowing, with the fiscal deficit growing for the first...

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Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	World Bank, Islamabad 2017
Subjects:	ECONOMIC GROWTH ECONOMIC OUTLOOK MONETARY POLICY BALANCE OF PAYMENTS STRUCTURAL REFORM JOB CREATION AGRICULTURE POVERTY REDUCTION SHARED PROSPERITY
Online Access:	http://documents.worldbank.org/curated/en/536431495225444544/Pakistan-Development-Update-Spring-2017 http://hdl.handle.net/10986/27544

id	okr-10986-27544
recordtype	oai_dc
spelling	okr-10986-275442021-05-25T09:01:10Z Pakistan Development Update, May 2017 : Growth - A Shared Responsibility World Bank ECONOMIC GROWTH ECONOMIC OUTLOOK MONETARY POLICY BALANCE OF PAYMENTS STRUCTURAL REFORM JOB CREATION AGRICULTURE POVERTY REDUCTION SHARED PROSPERITY Pakistan's economy continues to grow strongly, emerging as one of the top performers in South Asia. Beneath the surface, however, a number of warning signs are emerging. Revenue growth is slowing, with the fiscal deficit growing for the first time in three years. Exports continue to fall as imports grow, substantially increasing the current account deficit. Investment rates - already low - fell further in FY16 (the latest data available). Finally, the energy sector circular debt has resurfaced. These emerging concerns suggest that renewed policy emphasis is required on macroeconomic stability - to prevent the country from losing the impressive gains achieved over the past four years - and other structural reforms such as those required in the energy sector. While the federal government necessarily carries the majority of this burden, provincial governments also have a part to play. The special sections of this update analyze some of the specific challenges facing Pakistan's most populous province, Punjab, including increasing own-source revenue, equipping youth with employable skills and ensuring the poor share in the benefits of growth. Punjab, along with federal and other provincial governments, is also confronted with the urgent task of lifting agricultural productivity and addressing distortive subsidies, which are impeding growth. 2017-07-10T22:33:50Z 2017-07-10T22:33:50Z 2017-05 Report http://documents.worldbank.org/curated/en/536431495225444544/Pakistan-Development-Update-Spring-2017 http://hdl.handle.net/10986/27544 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Islamabad Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work South Asia Pakistan
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ECONOMIC GROWTH ECONOMIC OUTLOOK MONETARY POLICY BALANCE OF PAYMENTS STRUCTURAL REFORM JOB CREATION AGRICULTURE POVERTY REDUCTION SHARED PROSPERITY
spellingShingle	ECONOMIC GROWTH ECONOMIC OUTLOOK MONETARY POLICY BALANCE OF PAYMENTS STRUCTURAL REFORM JOB CREATION AGRICULTURE POVERTY REDUCTION SHARED PROSPERITY World Bank Pakistan Development Update, May 2017 : Growth - A Shared Responsibility
geographic_facet	South Asia Pakistan
description	Pakistan's economy continues to grow strongly, emerging as one of the top performers in South Asia. Beneath the surface, however, a number of warning signs are emerging. Revenue growth is slowing, with the fiscal deficit growing for the first time in three years. Exports continue to fall as imports grow, substantially increasing the current account deficit. Investment rates - already low - fell further in FY16 (the latest data available). Finally, the energy sector circular debt has resurfaced. These emerging concerns suggest that renewed policy emphasis is required on macroeconomic stability - to prevent the country from losing the impressive gains achieved over the past four years - and other structural reforms such as those required in the energy sector. While the federal government necessarily carries the majority of this burden, provincial governments also have a part to play. The special sections of this update analyze some of the specific challenges facing Pakistan's most populous province, Punjab, including increasing own-source revenue, equipping youth with employable skills and ensuring the poor share in the benefits of growth. Punjab, along with federal and other provincial governments, is also confronted with the urgent task of lifting agricultural productivity and addressing distortive subsidies, which are impeding growth.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Pakistan Development Update, May 2017 : Growth - A Shared Responsibility
title_short	Pakistan Development Update, May 2017 : Growth - A Shared Responsibility
title_full	Pakistan Development Update, May 2017 : Growth - A Shared Responsibility
title_fullStr	Pakistan Development Update, May 2017 : Growth - A Shared Responsibility
title_full_unstemmed	Pakistan Development Update, May 2017 : Growth - A Shared Responsibility
title_sort	pakistan development update, may 2017 : growth - a shared responsibility
publisher	World Bank, Islamabad
publishDate	2017
url	http://documents.worldbank.org/curated/en/536431495225444544/Pakistan-Development-Update-Spring-2017 http://hdl.handle.net/10986/27544
_version_	1764464650449059840

Pakistan Development Update, May 2017 : Growth - A Shared Responsibility

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