ISLAMABAD: Foreign investments in Pakistan will likely to enhance in the next fiscal year, Asian Development Bank (ADB) said in its report on the country’s economy.
Pakistan’s economic growth is expected to remain upto 2.9 pct in the next fiscal year, the lender said.
Foreign investors’ confidence over the economy of the country has restored to a larger extent after approval of a bailout package by the International Monetary Fund (IMF) for Pakistan, ADB report said.
IMF package will also help the country to avail financing from multilateral as well as bilateral sources, which will boost foreign exchange reserves of Pakistan to the level of over 10 billion dollars in the next financial year.
The inflation will remain on the higher side in the next fiscal year which will likely to be 12 percent, ADB report said.
Industrial growth in Pakistan will be minimal in next year due to decreasing local demand. However, an improvement is expected in the agriculture sector due to the measures taken by the government, report said.
Overall taxation will likely to enhance upto 16.6 percent in the next year.
The current account deficit is expected to be restricted upto 2.8 % in the next financial year.
Pakistani rupee is nearing to its exact value and the devaluation in currency will help increasing the exports, ADB report said.
 said in its report on the country's economy.){kind=link}