Vice President of the World Bank of South Asia, Martin Raiser, said Saturday that Pakistan could be $ 1 trillion in 2035 with an annual growth rate of seven percent, and said to achieve the same was “absolutely” feasible.
During an exclusive interview for Express News’ talk show, The Review, the World Bank representative said long -term projections are always a little difficult, but Pakistan’s homemade financial resuscitation plan has the potential to make the country a trillion dollar economy in the next time. decade.
Raiser sat down with The Review team in the heels of the World Bank’s promise to give $ 20 billion to Pakistan for the next 10 years.
The WB Vice President said Pakistan would require an annual growth rate of seven percent to reach the target. “Is it possible,” Raiser asked before answering “absolutely.” If it is currently projected, he asked further, adding that it probably wasn’t. However, he emphasized the need to look at the most important reforms that will make it possible.
On the question of WB reached out to other political actors, Raiser replied affirmatively and said WB has consulted across the political spectrum. This is part of our preparatory process that we do these consultations with the right group of civil society, he said, adding “We have also spoken to the opposition.”
In a commentary on Pakistans and India’s trade relations and foreign investments, Raiser said Pakistan should focus on what it has under its own control, and emphasized that there are many things it can do to attract more investments.
On the question of $ 20 billion loans to Pakistan was a guaranteed or stated loan, Raiser said it is indicative. During WB’s loan instruments, he explained, Pakistan has access to both concessional funds from the International Development Agency and to non-concessional official loans from the International Bank for Reconstruction and Development.
He said Pakistan has an exposure allocation that corresponds to the size of the country’s economy and its ability to repay.
