The International Monetary fund on Tuesday projected that the Indian economy will grow by 6.1 per cent in 2023, which is 0.2 points — 20 basis percentage points — higher than its April forecast.
Sharif said that China has demonstrated support by rolling over its commercial debt, highlighting the goodwill of friendly countries towards Pakistan's development.
In its Regional Economic Outlook - Asia and Pacific report released on Tuesday, the Washington-based fund said the region would contribute around 70 per cent of global growth.
Small and Medium-Sized enterprises account for 29 per cent of the nation's GDP, 49 per cent of exports, and more than 63 million businesses nationwide says Umesh Revankar, Executive Vice Chairman, Shriram Finance.
The fact is that a brain sitting in an uncongenial environment can drain away faster than if it goes to a stimulating interference-free environment abroad. It is decades of Nehruvian socialism which forced the best brains to migrate abroad. The critics seldom appreciated that the emigrants went because of paucity of career scope in India at the time.
'The economic growth of pre-COVID times, as and when restored through fuller unlocking of the economy, will heavily lean on the reforms undertaken today to enhance its potential tomorrow.'
Riyadh could lose half of its oil income, which contributes about 70 percent of public revenues, as oil prices have fallen two-thirds since the start of the year.
The IMF on Thursday also projected that growth in Asia is expected to stall at zero percent in 2020.
The IMF board approved the debt relief for the countries, nearly all in Africa, but also Afghanistan, Yemen, Nepal and Haiti.
