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Monday Oct 21 2019
By
Web Desk

Pakistan among countries to lead global growth by 2024

By
Web Desk

Pakistan is anticipated to be among the top 20 drivers of growth by 2024, according to a Bloomberg report based on the estimates published by the International Monetary Fund (IMF).

The IMF forecast also includes China, India, Thailand, Malaysia, Japan, South Korea, Philippines and Bangladesh from the Asian countries.

China has been a major driver of world growth for years, but its expansion is expected to slow down, as per the IMF estimates.

The report also unveils that India will likely leave behind the USA.

Weaker global growth, expected to fall to three percent this year and the slowest since the global financial crisis, will affect 90 per cent of the world, the IMF estimated.

Where growth comes from in 2019

• China – 32.7%

• All other economies combined 14.1%

• United states of America – 13.8%

• India – 13.5%

• Indonesia –3.9%

• Japan – 2.4%

• Russia – 2.0%

• Germany – 1.6%

• France – 1.5%

• Egypt – 1.5%

• United Kingdom – 1.5%

• Brazil – 1.4%

• S.Korea, Spain, Philippines, Malaysia, Thailand, Bangladesh, Poland, Canada, Vietnam and other countries 

Where will growth come from in 2024?

• China – 28.3%

• India – 15.5%

• United States of America – 9.2%

• Indonesia – 3.7%

• Russia – 2.0%

• Brazil –1.8%

• Germany – 1.6%

• Turkey – 1.6%

• Japan – 1.6%

• Egypt – 1.5%

• Mexico, United Kingdom, Philippines, France, Pakistan, Saudi Arabia, S.Korea, Bangladesh, Malaysia, Thailand – 11.70%

• All other countries – 21.50%

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