Asian Development Bank confirms that Pakistan’s economy is recovering

ISLAMABAD: The Asian Development Bank (ADB) has said that Pakistan’s economy was recovering particularly in manufacturing and construction sectors supported by the government’s emergency relief package.

In its report, Asian Development Outlook 2020 Supplement, Paths Diverge in Recovery from the Pandemic, forecast the developing Asian growth to rebound to 6.8% in 2021.

Recovery in Southeast Asia continues would lag as COVID-19 virus containment efforts in the larger economies hamper economic activity.

In a tweet on Friday, Prime Minister Imran Khan said the workers’ remittances continued to grow during the last month, remaining above two billion dollars for a record sixth consecutive month. “This is another good news for Pakistan’s economy,” he said.

The prime minister said according to the State Bank of Pakistan, remittances rose to 2.34 billion dollars, up 2.4 percent over the previous month and 28.4 percent over November last year.