The IMF said that economic activity in Pakistan in FY21 has picked up and is estimated at 3.9%. in FY20, economic activity had dampened due to the COVID restrictions.
The IMF said in its “Policy Actions Taken by Countries,” report which reviewed steps taken by countries in COVID. Regarding Pakistan the report said that in mid March 2021, a third wave of infections started to emerge, with a steep rise in the number of cases and the positivity rate (exceeding 5,000 daily cases and 10% in the second half of April 2021, respectively).
Restrictions were imposed and after Eid celebrations in mid-May 2021, there was a moderation in the rate of infection, with the number of new daily cases falling below 3,000, and the positivity rate falling below 5%. New restriction measures consisted of banning inter-city transport, imposing lockdowns on markets, businesses, restaurants, parks, banning religious processions, and limiting the number of inbound flights for two weeks.
These restrictions have now been mostly lifted and economic activity has restarted.
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