Pakistan aims to become world's 24th largest economy, join G20: Ishaq Dar

Dar said Pakistan was experiencing rapid economic growth in 2017, but the country’s economic journey was subsequently disrupted. Had that progress continued, he said, Pakistan would have been among the world’s major economies by now.

The deputy prime minister said Pakistan had moved out of the risk of default, while foreign exchange reserves had improved significantly. He added that economic activity had resumed and the country’s economy had achieved stability., inflation has fallen from 30% to single digits, while the policy rate has declined from 22% to 11.5%.

He said that after achieving economic stability, the government’s focus was now shifting towards accelerating economic growth and increasing the growth rate. Dar said stronger economic growth would raise per capita income and improve living standards.

He added that the government’s targets include restoring Pakistan’s economic indicators to 2017 levels, making the country the world’s 24th largest economy and securing membership of the G20. The deputy prime minister further said Pakistan was fulfilling its diplomatic responsibilities at the global level and that the country’s diplomatic efforts were being appreciated internationally.