The World Bank forecast on Monday that Pakistan’s economy would actually perform even worse than what previous estimates had warned about, citing the Covid-19 fallout.

In its latest report, Global Economic Prospects, the Washington-based lending agency assesses the country’s economy was likely to go into the red this fiscal year and would be unable to recover even next year. It forecast a negative GDP growth of -2.6pc for the current fiscal year (2019-20) and -0.2pc during the next (20-21).

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