Pakistan's Macroeconomic Adjustment and Resumption of Growth, 1999-2004

Publication Date: July 01, 2005
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: The main findings are as follows: (1) an increase in private national saving during 2001-03 was the key contributor to the turnaround in Pakistan's external current account during this period; (2) while Pakistan's growth was mainly export-led before 2003-04, it was largely led by domestic demand in 2004, especially consumer demand but also private and public investment; and (3) the structural reforms implemented in Pakistan during the past four years should make the observed strengthening in domestic savings and rise in domestic investment permanent, auguring well for accelerated growth within a sustainable external balance. The country's growth prospects would be further enhanced by a more externally driven growth process, and by an acceleration of structural reforms to further improve productivity and the investment climate.
Series: Working Paper No. 05/139
Subject(s): Economic growth

Author's Keyword(s): Pakistan | macroeconomic adjustment | economic growth
Publication Date: July 01, 2005
ISBN/ISSN: 9781451861587/1018-5941 Format: Paper
Stock No: WPIEA2005139 Pages: 65
US$15.00 (Academic Rate:
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