World Bank Vice President for South Asia, Martin Raiser, has projected that Pakistan could achieve a $1 trillion economy by 2035, provided it attains an annual growth rate of 7%. He emphasized that while long-term projections are challenging, with the implementation of key economic reforms and strong policies, this target is “absolutely feasible.”
Raiser highlighted the necessity for Pakistan to focus on factors within its control, particularly in attracting foreign investment and enhancing trade relations. He noted that the World Bank has pledged $20 billion to Pakistan over the next decade to support these efforts, though this funding is conditional and will be aligned with the country’s economic capacity and commitment to reforms.
Despite this optimistic outlook, Pakistan faces significant challenges, including fiscal deficits and political instability, which could impede progress toward this economic milestone. Addressing these issues will be crucial for sustainable development.
While the path to becoming a $1 trillion economy by 2035 is come with challenges, strategic reforms and effective policy implementation could enable Pakistan to realize this ambitious goal.