New Delhi. Asian Development Bank (ADB) in its annual report has described the economic condition of Pakistan as deteriorating. In the report, it has been estimated for the neighboring country that the gross domestic product (GDP) could be 1.9 percent in the financial year 2024. There may be a slight improvement in this compared to the financial year 2023, which was -0.2 percent last year.

ADB has claimed in its report that Pakistan's economic growth rate will likely be 2.8% in this financial year. In the Outlook report, the political instability there has been held responsible for this condition of Pakistan.

worse condition due to inflation

It has been mentioned in the Development Outlook Report of ADB that inflation will be at its peak in the coming days in Pakistan. It is estimated that the inflation rate may be around 25 percent in this financial year. However, it is also being said that if there is stability in the politics of Pakistan, there may be some relief in inflation.

Estimates have also been made in the report regarding inflation in India and other countries of Asia. According to the report, inflation in India is expected to be 4.6 percent during the current financial year. At the same time, the inflation rate in Bhutan is expected to be 4.5 percent, in Bangladesh 8.4, in Maldives 3.2, in Sri Lanka 7.5 and in Nepal 6.5 percent.

Indian economy will be the fastest in Asia

While ADB said that Pakistan's economy is in bad shape, its estimate regarding India is completely opposite. The report says that India will have the fastest economy in Asia.

The report has estimated that India's growth rate will be 7 percent in fiscal year 2024 and 7.2 percent in fiscal year 2025. At the same time, China's annual growth rate in these two years is said to be 4.8 percent and 4.5 percent respectively.