Tuesday, May 24, 2016
Pakistan economic outlook at six year high
According to the survey, the results of which have been released recently, the economic outlook in Pakistan is at a six-year high now and is continuously improving.
It says, “the business confidence in the country has improved to a positive 36% in the last six months (October 2015 to March 2016), up 14 percentage points compared to 22% in previous six months (April to September 2015).”
The survey results also show that the confidence level of foreign companies operating in the country was also at a positive 55%, a record high for the last six years.
One of the big negatives holding back the economy is the continuing energy crisis. However quite a bit of the money being invested through the CPEC is earmarked for new power plants and electrical distribution. This is important because the energy shortages are costing Pakistan an estimated 1% of annual GDP growth per year.
Pakistan currently has a building wind behind its back and has a market that is undervalued relative the rest of the world. I continue to like the country as an investment destination going forward.