Pakistan Development Update, April 2016 : From Stability to Prosperity

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作者：

World Bank Group

来源地址：

http://hdl.handle.net/10986/24398

关键词：

AUCTION;  MONETARY POLICY;  SOVEREIGN YIELD;  ACCOUNTING;  DEPOSITS;  WITHHOLDING TAX;  INTEREST;  PUBLIC INVESTMENTS;  REMITTANCE;  PRIVATE CREDIT;  DEVELOPING COUNTRIES;  REPAYMENTS;  EXPORTERS;  REVENUES;  PORTFOLIO;  FISCAL POLICY;  CAPITAL ADEQUACY;  LOAN;  LIQUIDITY CONSTRAINT;  ISLAMIC FINANCE;  TREASURY BILL;  REGULATORY AUTHORITY;  INSTRUMENTS;  POLITICAL RISKS;  TRADE FINANCING;  MARKET LIQUIDITY;  OIL PRICES;  MARKET REFORMS;  CURRENCY;  EXPORT GROWTH;  COMMERCIAL BANK;  EXCHANGE RATES;  INTERNATIONAL BOND;  CORPORATE BOND MARKET;  MONETARY FUND;  EMERGING MARKET;  FINANCIAL INSTITUTIONS;  CAPITAL MARKET;  DEBT;  MARKETS;  LOCAL GOVERNMENT;  FINANCIAL FLOWS;  INFLATION RATE;  SETTLEMENT;  DOMESTIC DEBT;  CASH RESERVE;  RESERVE REQUIREMENT;  RECURRENT EXPENDITURE;  DOMESTIC BONDS;  COMMODITY PRICE;  INTERNATIONAL FINANCIAL INSTITUTIONS;  MARKET ECONOMIES;  BANKING SECTOR;  FISCAL DEFICIT;  GOVERNMENT BUDGETS;  TRANSACTIONS;  INVESTMENT FLOWS;  EMERGING MARKETS;  AUCTIONS;  INTEREST PAYMENTS;  GOOD;  INTERNATIONAL TRADE;  CASH TRANSACTIONS;  MARKET CAPITALIZATION;  FUTURE;  MARKET PRICES;  MOBILE PHONE;  MARKET DIVERSIFICATION;  FOREIGN DIRECT INVESTMENT;  CAPACITY CONSTRAINTS;  FIXED CAPITAL;  FEDERAL BUDGET;  FOREIGN INVESTMENT;  EXCHANGES;  GOVERNMENT EXPENDITURE;  STRATEGIC INVESTOR;  EXPORT SHARES;  INVESTMENTS IN GOVERNMENT SECURITIES;  CAPITALIZATION;  BORROWING REQUIREMENT;  DISBURSEMENTS;  ISSUANCE;  SHARES;  T-BILLS;  TRADE LIBERALIZATION;  CROP LOSSES;  SECURITIES;  PUBLIC DEBT;  BALANCE OF PAYMENT;  TREASURY;  SOLVENCY;  CORPORATE DEBT MARKET;  INSURANCE;  GOVERNMENT DEBT;  ECONOMIC DEVELOPMENT;  OPEN MARKET;  TIME DEPOSITS;  GLOBAL TRADE;  EUROBOND;  COMMERCIAL BANKS;  CORPORATE BOND;  ISLAMIC BOND;  FINANCIAL SUPPORT;  PORTFOLIO INVESTMENT;  CONSUMER PRICE INDEX;  LENDING;  MATURITIES;  FISCAL DISCIPLINE;  REMITTANCES;  PUBLIC SPENDING;  LIMITED LIABILITY;  COMMODITY PRICES;  LIABILITIES;  ARREARS;  STOCK EXCHANGES;  EXPORT SHARE;  CAPITAL ACCOUNT;  INVESTING;  TARIFFS;  DEFICIT;  BASIS POINTS;  LIABILITY;  OIL PRICE;  BROAD MONEY;  STOCK;  FOREIGN INVESTORS;  FISCAL DEFICITS;  REPO;  FOREIGN EXCHANGE MARKET;  MONEY SUPPLY;  EXPORT PERFORMANCE;  EMERGING ECONOMIES;  INTEREST RATE;  EXCHANGE;  DISCOUNT RATE;  BALANCE OF PAYMENTS;  BANKING SYSTEM;  INTERNATIONAL BOND MARKET;  ISSUANCES;  LIQUIDITY;  EQUITY MARKET;  TAX COLLECTION;  GOVERNMENT BORROWING;  NATIONAL SAVINGS;  DOMESTIC CORPORATE DEBT;  BONDS;  DISCOUNT;  TAX;  NON-PERFORMING LOANS;  BUDGETING;  LONG-TERM INVESTMENT;  RESERVE;  INFLATION;  STATE BANK;  ENABLING ENVIRONMENT;  EMERGING MARKET ECONOMIES;  GOVERNANCE STANDARDS;  BUDGET;  CENTRAL BANK;  FOREIGN MARKETS;  MACROECONOMIC STABILITY;  POLICY RESPONSE;  FISCAL POLICIES;  TRADE BALANCE;  SUKUK;  GLOBAL ECONOMY;  COMMERCIAL BORROWING;  MARKET REGULATOR;  TRADING;  TAX EXEMPTIONS;  INTEREST RATES;  INVESTMENT REQUIREMENT;  INVESTMENT PURPOSES;  PRIVATE INVESTMENT;  RETURN;  DEFICITS;  BASIS POINT;  DIRECT INVESTMENT;  LOANS;  RESERVES;  ASSET CLASSES;  PRIVATE CAPITAL;  GROSS DOMESTIC PRODUCT;  RETURN ON ASSETS;  FINANCE;  FOREIGN CURRENCY;  PUBLIC INVESTMENT;  TAXES;  EXPENDITURE;  GOVERNMENT SECURITIES;  INFRASTRUCTURE INVESTMENT;  EQUITY;  INVESTORS;  FOREIGN EXCHANGE RESERVES;  TAX RATE;  PRIVATE SECTOR CREDIT;  EXPORT COMPETITIVENESS;  SAVINGS RATE;  PENSIONS;  RETURNS;  FIXED INVESTMENT;  BUDGETS;  TAX CONCESSIONS;  FINANCIAL INSTRUMENTS;  INVESTMENT ASSETS;  BOND MARKET;  WORKING CAPITAL;  YIELD CURVE;  EXPENDITURES;  CAPITAL FLOWS;  BIDS;  CURRENT ACCOUNT DEFICIT;  T-BILL;  MARKET;  FOREIGN EXCHANGE;  CREDIT BUREAU;  LEVY;  DEBT MARKET;  INVESTMENT RATES;  CORPORATE DEBT;  GOODS;  INVESTOR;  MARKET SHARE;  GOVERNMENT SUBSIDIES;  FINANCIAL MARKET;  INTERNATIONAL MARKET;  STOCKS;  REPO RATE;  STOCK EXCHANGE;  INVESTMENT;  BOND;  SHARE;  INVESTMENT CLIMATE;  POVERTY;  FINANCIAL MARKETS;  TARIFF;  BID;  REVENUE;  PROFIT;  INVESTMENTS;  CHECK;  CREDIT GROWTH;  EXCHANGE RATE;  INSTRUMENT;  ASSETS RATIO;  PROFITS;  INTERNATIONAL INVESTORS;  GUARANTEE;  ISLAMIC BONDS;  MARKET LEVEL;  Report; 

年份：

2016

出版地：

Washington,USA

语种：

English

摘要：

South Asia emerged as the fastest growing region in the world in 2015, posting GDP growth of 7 percent. Weak oil and commodity prices, slowing capital flows and shrinking global trade contributed towards a deceleration of growth in most of the world's economies. South Asia - as a net importer of oil - was an anomaly, growing significantly on the back of higher private consumption and public investment. Higher remittances and reserve buffers throughout the region offset the fall in exports caused by the drop in global demand. The region is set to maintain real GDP growth above 7 percent over the next few years. However, the tailwinds are now fading - capital flows have declined and remittances are starting to feel the reality of low oil prices. Pakistan, while not growing as quickly as its neighbors, has continued its steady growth recovery in H1FY16. Strong growth in consumption, rising foreign exchange reserves, fast-growing workers' remittances and a lower import bill compensated for a significant fall in exports. Low oil prices generated a significant boost, driving a 9.1 percent fall in the import bill and reducing inflation significantly, in turn creating scope to reduce the policy rate. Private sector consumption, propelled by higher remittances and a loosened monetary policy, is expected to account for over half of FY16 GDP growth.