Publication:
Pakistan Development Update, April 2015

Simple item page
dc.contributor.authorWorld Bank
dc.date.accessioned2015-04-16T19:24:38Z
dc.date.available2015-04-16T19:24:38Z
dc.date.issued2015-04
dc.description.abstractThe Pakistani economy faced four major domestic shocks as of April 2015: (i) a political sit-in by opposition parties in Islamabad that lasted between August and December and raised significant political uncertainty; (ii) the September floods in Punjab that affected agricultural crops; (iii) the postponed sale of Oil and Gas Development Company Limited (OGDCL) equity shares in November that reduced its expected privatization proceeds and foreign direct inflows (FDI); and (iv) the terrorist attack in a school in Peshawar that heightened security concerns. However, supported by a favorable slump in international oil prices, and steady implementation of structural reforms by the government, the economy is improving. Preliminary data for the first half of FY15 show growth picking up, driven mainly by strong performance in the agriculture and services sectors. Despite the floods last year, growth improved in the cotton, wheat, and rice crops. The services sector was boosted by transport, storage, communications, finance, and insurance. On the demand side, growth continues to be driven by private consumption partly fuelled by high remittance inflows. Credit to the private sector continued to grow, but slightly less rapidly than last year: as a percentage of GDP, it fell to 13.4 percent in January 2015 compared with 14.1 percent in January 2014. Pakistan is on track to meet a fiscal deficit target of 4.8 percent of GDP in FY15. The newly elected government appears to be committed to fiscal discipline and has made fiscal consolidation the cornerstone of its economic program supported by the IMF, the World Bank and other donors. At present, Pakistan is facing three sources of risk: first is the prospect of an early reversal of the fall in oil prices. Second is the repeat of political events of the first half that keep FDI flows and private investment low; and also affects foreign reserves, privatization program and growth prospects. An uncertain political environment undermines investor confidence and depresses economic activity. Third is the continuation of a troubled domestic energy sector that continues to endure a long-due complex inheritance on its circular debt. Given past trends and the current growth rate, poverty is expected to continue to fall and shared prosperity to improve in this and the next fiscal year. However, a large mass of the population is clustered around the official poverty line, so that small improvements in household real consumption can translate into substantial movement in poverty in either direction.en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/04/24366175/pakistan-development-update
dc.identifier.doi10.1596/21752
dc.identifier.urihttps://hdl.handle.net/10986/21752
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectAMORTIZATION
dc.subjectAUCTION
dc.subjectAUCTIONS
dc.subjectAVAILABILITY OF CREDIT
dc.subjectBAILOUT
dc.subjectBALANCE OF PAYMENT
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE SHEETS
dc.subjectBANK BORROWINGS
dc.subjectBANK DEPOSITS
dc.subjectBANK FINANCING
dc.subjectBANKING INSTITUTIONS
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBASIS POINT
dc.subjectBASIS POINTS
dc.subjectBID
dc.subjectBIDS
dc.subjectBOND
dc.subjectBOND INDEX
dc.subjectBONDS
dc.subjectBROAD MONEY
dc.subjectBUDGET DEFICIT
dc.subjectBULLET REPAYMENT
dc.subjectCAPACITY BUILDING
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL MARKET TRANSACTIONS
dc.subjectCAPITAL MARKETS
dc.subjectCAPITALIZATION
dc.subjectCASH RESERVE
dc.subjectCASH TRANSFER
dc.subjectCASH TRANSFERS
dc.subjectCENTRAL BANK
dc.subjectCOLLECTION PROCESSES
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMODITY PRICES
dc.subjectCONCESSIONARY TAX
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONTINGENT LIABILITIES
dc.subjectCOUNTRY RISK
dc.subjectCOUPON
dc.subjectCOUPON BOND
dc.subjectCREDIT BUREAU
dc.subjectCREDIT GROWTH
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectDEBT RATIOS
dc.subjectDEBT SERVICE
dc.subjectDEBT SERVICING
dc.subjectDEBT SERVICING COST
dc.subjectDEPOSIT
dc.subjectDISCOUNT RATE
dc.subjectDOMESTIC BANKING
dc.subjectDOMESTIC BORROWING
dc.subjectDOMESTIC CAPITAL
dc.subjectDOMESTIC CAPITAL MARKET
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC INTEREST RATES
dc.subjectDOMESTIC MARKET
dc.subjectDOMESTIC PRICE
dc.subjectDOMESTIC SECURITY
dc.subjectDURABLES
dc.subjectECONOMIC REFORM
dc.subjectEMERGING MARKETS
dc.subjectEQUITY MARKET
dc.subjectEQUITY MARKETS
dc.subjectEUROBOND
dc.subjectEXCHANGE COMMISSION
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORT PERFORMANCE
dc.subjectEXPORTERS
dc.subjectEXTERNAL FINANCING
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SECTOR DEVELOPMENTS
dc.subjectFINANCIAL STATEMENTS
dc.subjectFISCAL BURDEN
dc.subjectFISCAL CONSOLIDATION
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL DISCIPLINE
dc.subjectFISCAL POLICY
dc.subjectFIXED INCOME
dc.subjectFLOATING DEBT
dc.subjectFOREIGN ASSET
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE MARKET
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectFOREIGN PORTFOLIO INVESTMENT
dc.subjectFUND INFORMATION
dc.subjectGLOBAL ECONOMY
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT BORROWING
dc.subjectGOVERNMENT BORROWINGS
dc.subjectGOVERNMENT GRANTS
dc.subjectGOVERNMENT PAPERS
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATE
dc.subjectHOLDING
dc.subjectHUMAN RESOURCE
dc.subjectINCOME LEVELS
dc.subjectINCOME TAX
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFLATION RATES
dc.subjectINFLATIONARY EXPECTATIONS
dc.subjectINFLATIONARY PRESSURES
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINFRASTRUCTURE DEVELOPMENT
dc.subjectINFRASTRUCTURE FINANCING
dc.subjectINSURANCE
dc.subjectINTEREST PAYMENTS
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE SPREADS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL BOND
dc.subjectINTERNATIONAL BOND MARKET
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINTERNATIONAL FINANCIAL STATISTICS
dc.subjectINTERNATIONAL MARKET
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL TRADE
dc.subjectINVENTORIES
dc.subjectINVESTING
dc.subjectINVESTMENT ASSETS
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT PORTFOLIO
dc.subjectINVESTOR CONFIDENCE
dc.subjectISLAMIC BANKING
dc.subjectISLAMIC BANKS
dc.subjectISLAMIC BOND
dc.subjectISLAMIC BOND ISSUANCE
dc.subjectISLAMIC BONDS
dc.subjectISLAMIC FINANCIAL MARKET
dc.subjectISLAMIC LAW
dc.subjectISLAMIC MARKET
dc.subjectISSUANCE
dc.subjectLENDER
dc.subjectLENDERS
dc.subjectLIABILITY COMPOSITION
dc.subjectLIMITED LIABILITY
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY MANAGEMENT
dc.subjectLIVING STANDARDS
dc.subjectLOAN
dc.subjectLOAN PORTFOLIO
dc.subjectLOCAL CURRENCY
dc.subjectLONG-TERM ASSETS
dc.subjectLONG-TERM GOVERNMENT SECURITIES
dc.subjectMARKET VALUE
dc.subjectMARKET YIELD
dc.subjectMATURITIES
dc.subjectMATURITY
dc.subjectMICROFINANCE
dc.subjectMICROFINANCE SECTOR
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICY
dc.subjectNATIONAL SAVING
dc.subjectNON-PERFORMING LOANS
dc.subjectNONPERFORMING LOANS
dc.subjectOIL PRICE
dc.subjectOIL PRICES
dc.subjectOUTPUT
dc.subjectPENSIONS
dc.subjectPERMANENT DEBT
dc.subjectPOLITICAL UNCERTAINTY
dc.subjectPORTFOLIO INVESTMENT
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE SECTOR CREDIT
dc.subjectPRIVATIZATION
dc.subjectPRIZE BONDS
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC INVESTMENT
dc.subjectPURCHASING POWER
dc.subjectREFORM PROGRAM
dc.subjectREMITTANCE
dc.subjectREMITTANCES
dc.subjectREPAYMENTS
dc.subjectREPO
dc.subjectREPO RATE
dc.subjectRESERVE
dc.subjectRESERVE REQUIREMENT
dc.subjectRESERVE REQUIREMENTS
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRETURN ON ASSETS
dc.subjectRETURNS
dc.subjectSECONDARY MARKET
dc.subjectSECURITY CONCERNS
dc.subjectSETTLEMENT
dc.subjectSINKING FUND
dc.subjectSOLVENCY
dc.subjectSOVEREIGN BOND
dc.subjectSOVEREIGN YIELD
dc.subjectSPOT MARKET
dc.subjectSTATE BANK
dc.subjectSTATUTORY LIQUIDITY
dc.subjectSTOCK EXCHANGE
dc.subjectSUKUK
dc.subjectT-BILLS
dc.subjectTANGIBLE ASSET
dc.subjectTAX
dc.subjectTAX COLLECTION
dc.subjectTAX EXEMPTIONS
dc.subjectTAX RATE
dc.subjectTAX RATES
dc.subjectTIME DEPOSITS
dc.subjectTRADE BALANCE
dc.subjectTRADE REGIME
dc.subjectTRADING
dc.subjectTRANCHE
dc.subjectTRANSACTION
dc.subjectTRANSACTION COSTS
dc.subjectTREASURY
dc.subjectTREASURY BILL
dc.subjectTREASURY BILLS
dc.subjectTREASURY RATE
dc.subjectTREATY
dc.subjectTURNOVER
dc.subjectUNDERLYING ASSET
dc.subjectUNFUNDED DEBT
dc.subjectYIELD CURVE
dc.titlePakistan Development Update, April 2015en
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.date.disclosure2015-04-15
okr.date.doiregistration2025-05-07T11:19:21.726703Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/2015/04/24366175/pakistan-development-update
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticePoverty
okr.guid531691468098388002
okr.identifier.externaldocumentum000477144_20150415083514
okr.identifier.internaldocumentum24366175
okr.identifier.report95751
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/04/15/000477144_20150415083514/Rendered/PDF/957510WP00PUBL0pril20150edited0fina.pdfen
okr.region.administrativeSouth Asia
okr.region.countryPakistan
okr.sectorPublic Administration, Law, and Justice :: Central government administration
okr.themeEconomic management :: Analysis of economic growth
okr.themeEconomic management :: Debt management and fiscal sustainability
okr.themeEconomic management :: Economic statistics, modeling and forecasting
okr.themeEconomic management :: Macroeconomic management
okr.themeEconomic management :: Other economic management
okr.topicEnvironmental Economics and Policies
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicEconomic Theory and Research
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth
okr.topicEnvironment
okr.unitMacro & Fiscal Mgmt - GP (GMFDR)
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