Global credit rating agency Moody’s has raised the outlook of Pakistani banks from stable to positive. According to Moody’s, the positive outlook is due to the resilient financial performance of banks.
According to Moody’s, Pakistan’s positive outlook indicates that the economy has stabilized somewhat and the performance of Pakistani banks has improved compared to the past.
According to the international rating agency, the report says that debt sustainability and external financial payments are still major economic challenges facing the Pakistani economy, but the positive outlook reflects better economic conditions compared to a year ago.
Moody’s further said that Pakistan’s economic growth is expected to be 3 percent in the current fiscal year. Last fiscal year, Pakistan’s economic growth was 2.50 percent. The Pakistani economy is slow but on the path of recovery.
