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Pakistan reports 2% quarterly growth as energy disruption weighs on industry

Mountain Time
Local time
10:30 PM in Karachi
Where
Pakistan

Pakistan Bureau of Statistics data released Monday showed that the economy grew 2.0% in April–June, below economists’ 3.5% forecast and the preceding quarter’s 4.42% growth. Industry contracted 4.7%. OilPrice.com linked the slowdown to higher energy costs and disrupted LNG supplies from Qatar.

Why it matters

Weaker industrial output and more expensive replacement fuel purchases complicate Pakistan’s budget planning and economic recovery under its IMF program.

Source

Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels