Pakistan to become 16th largest economy by 2050: PwC report

KARACHI: Pakistan will become the 20th largest economy by 2030 and the 16th largest by 2050, PricewaterhouseCoopers (PwC), one of world’s biggest management consultancy firms, said in a report.

The report titled, ‘The Long View: How will the global economic order change by 2050?’ said that Pakistan’s GDP calculated in purchasing power parity terms (PPP) terms would surpass Canada and Italy by 2040.

According to the report, Pakistan ranked at 24 in 2016 and its GDP-PPP was close to $988 billion. By 2030, the GDP-PPP will reach $1,868 billion.

By 2050, the GDP-PPP is expected to exceed $4,236 billion, the report stated.

The professional services firm in its report said that Pakistan’s yearly GDP growth till 2050 would average 4.4 percent and per capita growth is expected to be at 2.9 percent.