Pakistan Food & Drink Q2 2020
We have revised up our forecast for Pakistan’s GDP growth in FY2019-20 to 2.9% from 2.7% previously, due to the likelypickup in investments related to the China-Pakistan Economic Corridor (CPEC), improving export outlook, and continued bullishstock market which will boost consumption and business sentiment. That said, restrictions imposed by the IMF as part of its bailoutpackage, as well as elevated Indo-Pakistani tensions, are expected to weigh on growth in the medium term. A large domesticpopulation and rising urbanisation bode well for the Pakistani food and drink sector with healthy annual growth rates forecastthrough to 2024. The focus will remain on essential staple items with informal retailing patterns continuing to dominate food anddrink sales in the country.
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