Pakistan growth challenging; depends on reform pace: ADB
1/21/2012 10:15:46 AM
KARACHI: Pakistan's economy will struggle to grow fast this year but the country can do better in the future provided the necessary economic reforms make it through the country's complex power structure, the Asian Development Bank's (ADB) top official for Pakistan said."
After devastating summer floods caused economic growth to slow to 2.4 percent in the 2010/11 fiscal year, ADB country director for Pakistan Werner Liepach forecast growth to pick up to just 3.6 percent in 2011/12. The government targets an expansion of 4.2 percent.
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