Moody’s Investors Service has affirmed Pakistan’s B3 ratings and maintained a stable outlook. According to Moody’s credit analysis, Pakistan’s medium-term growth outlook is strong, supported by the China-Pakistan Economic Corridor (CPEC) project.
It says the outlook for growth has strengthened as a result of increased macro-economic stability due to reforms and following the launch of the CPEC project in 2015. In the fiscal year ended June 2016, real GDP growth reached 4.5 per cent, up from 4.1 per cent in both fiscal year 2015 and fiscal year 2014.
Moody’s expects that real GDP growth will rise towards 6 per cent over the next few years, as the economic benefits of the CPEC gradually materialize and past policy reforms continue to support economic potential.