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Pakistan’s GDP growth to reach 3.5% by 2027: Fitch
- Pakistani banks see stronger growth opportunities ahead: Fitch.
- Global rating agency cites improving overall business conditions.
- Says Pakistan’s recovery follows tough period of crisis.
Global credit rating agency Fitch has forecasted Pakistan’s real GDP growth at 3.5% by 2027, up from 2.5% in 2024, according to Fitch Ratings.
“Pakistan’s improved sovereign credit profile reinforces this view,” Fitch noted, referring to the upgrade of the country’s Long-Term Issuer Default Rating (IDR) to ‘B-‘/Stable from ‘CCC+’ in April 2025. The rating improvement was underpinned by ongoing economic recovery, reforms and improving fiscal performance.
The recovery comes after a particularly turbulent period for Pakistan’s economy. Inflation, which peaked at 38% in May 2023, has since eased to 4.1% in July 2025, with Fitch expecting it to average around 5% for the year.
Meanwhile, monetary policy has shifted in response to easing inflationary pressures. Since May 2024, Pakistan’s central bank has halved the policy rate to 11%, while external stability has improved through reduced currency volatility and current account surpluses.
Fitch anticipates that this combination of lower interest rates and a more stable macroeconomic environment will boost demand for private credit.
“We expect the combination of lower interest rates and an improving macroeconomic environment to stimulate private credit demand,” Fitch said, adding that this should support “steadier loan and deposit growth, and banks’ financial performance.”
The agency noted that Pakistan’s banks are set to benefit from better opportunities to generate business volumes due to improving operating conditions amid receding macroeconomic headwinds.
“Private sector credit, which had dropped to a cyclical low of 9.7% of GDP in 2024, is expected to rebound, reducing banks’ reliance on public-sector lending. Continued economic and fiscal reforms could further support this shift,” the statement read.
However, Fitch also pointed to ongoing risks, stating that Pakistan’s improving, albeit still weak, operating environment and its low sovereign credit rating remain areas of concern.
The agency cautioned that the banks’ intrinsic creditworthiness will remain “closely linked to the sovereign and the pace of economic reform,” due to their significant exposure to sovereign securities and state-linked entities.
Despite past economic turbulence, Pakistani banks have demonstrated resilience. The sector’s impaired loan ratio improved to 7.1% by March 2025, down from 7.6% at the end of 2023, amid strong loan growth of 26%, largely fueled by inflation.
Prince William visited the Jaguar TCS Racing Formula E Team in Kidlington, Oxfordshire on Thursday coinciding with his younger son Prince Louis of Wales’s 8th birthday.
The royal was welcomed by team members before beginning his tour in the trophy room, where Jaguar’s growing success in the Formula E Championship was on full display.
The visit then moved into the heart of operations, where cutting-edge technology and precision engineering power Jaguar’s race-day performance.
William met Portuguese racing star António Félix da Costa, the 2019-20 Formula E World Champion.
The driver walked him through the details of the car, offering insight into the speed, strategy, and split-second decisions that define the sport.
Then came the moment everyone was waiting for as the Prince climbed into the cockpit himself.
At 6ft 4in, it wasn’t exactly a seamless fit, but that didn’t stop him from settling behind the wheel and getting a feel for the tight, tech-packed space drivers call home.
One engineer joked that only one of their current drivers, Jake Dennis, comes close in height and even he barely fits.
Still, William’s willingness to give it a go earned plenty of appreciation, especially given how physically demanding it is just to get in and out of the car.
The visit also tells the broader mission behind Formula E, combining elite motorsport with sustainability and innovation.
Jaguar TCS Racing has been at the forefront of this push, using racing as a testing ground for electric vehicle technology that can eventually influence everyday road cars.
Blackburn Rovers icon Tony Parkes passed away at age 76 on Wednesday night, April 22, 2026.
The Sheffield native played in 350 games for the Championship club in his soccer career between 1970 and 1982.
Parkes dedicated 34 years of his life to the club and that was the reason, he was affectionately given the nickname title of ‘Mr Blackburn Rovers.’
The Championship club announced the tragic news in a statement, which read, “Blackburn Rovers are devastated to learn of the passing of Tony Parkes.”
Paying rich tribute to a club legend, the statement added, “A true club legend, often referred to as ‘Mr Blackburn Rovers,’ Tony passed away last night at the age of 76.
Everyone at the club sends their deepest heartfelt condolences to Tony’s daughter Natalie and all his family and friends at this incredibly sad time.”
Parkes, often referred to as ‘Mr Blackburn Rovers,’ spent 12 years of his career playing for the Blackburn before joining the coaching staff at Ewood Park.
He was a member of the coaching staff during Blackburn’s Premiership title triumph in 1994-95 under Kenny Dalglish.
Parkes was battling with Alzheimer’s and diagnosed in 2020 and even a Championship match between Blackburn and Blackpool was dedicated to him in April 2022.
‘Mr Blackburn Rovers’ played and managed the Championship club across three various Divisions after first joining the club in 1970 from non-league Buxton Town.
He made 409 appearances for Blackburn, scoring 46.
Prince Harry had been actively working on getting a truce with the royal family with the support of his wife Meghan Markle.
The Duke and Duchess of Sussex have notably been taking prudent steps to avoid any upsets with the Palace, especially amid reports that Prince William will not show mercy when his time comes. Hence, the Sussexes have been trying to win King Charles’s favour.
Although, all of those plans appear to be crumbling as the peace talks seem to be paused as the monarch reportedly showing a cold shoulder to his son amid turbulent times. In the meantime, Meghan is hatching a plan, which could put an end to the truce once and for all.
The As Ever founder has been subjected to heavy backlash and bad PR since the day she began dating Prince Harry. She has still been a centre of criticism following the Australia visit. Sources cited by Closer have stated that now Meghan is looking to abandon the royal plan and secure a retirement scheme instead.
“It’s true that Meghan is holding back on a tell-all memoir for now she’s absolutely not opposed to writing one down the line. And it will likely be co-authored with husband Prince Harry,” an insider said.
The source noted that it’s like a “secret retirement fund and retribution package all rolled into one” if this explosive scheme works out.
Meghan would love to clear up false narratives about herself hence the idea of tell-all is appealing to her once again.
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