QUETTA: Heavy rains, thunderstorms, and hailstones continued to lash various districts of Balochistan, including its capital, on Saturday
Moody’s describes Pakistan’s banking outlook stable
ISLAMABAD: International rating agency Moody's has declared Pakistan's economy and banking outlook stable amid PTI government’s efforts for reviving the COVID-hit economy.
Moody's in its remarks that that the country’s economy has started improving, adding that the economic activity in Pakistan will remain below pre-coronavirus pandemic levels but it will gradually get the pace.
The international agency has projected Pakistan’s economic growth at 1.5 percent in 2021 and 4.4% in 2022.
It said the provision of loans to the private sector will also grow from five to seven percent.
Liquidity in Pakistan's banking sector, according to Moody’s, is in stable condition despite the economic fallout of the COVID-19.
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