Pakistan Trims Growth Forecast Amid Trade Headwinds (1)

Pakistan’s government lowered its economic growth projection for the fiscal year as global trade disruptions and tighter spending conditions by the International Monetary Fund weighed on the South Asian nation’s economy.

Gross domestic product is estimated to expand 2.68% in the fiscal year through June, Pakistan Bureau of Statistics said Tuesday. This compares with the government’s projection of 3.6% for the current year and last year’s 2.5% expansion.

The government’s advance GDP estimate will be used to assess spending priorities in its upcoming budget. Prime Minister Shehbaz Sharif’s government is expected to present the budget for the next fiscal ...