ADB: Strong industrial output and stable remittances underpin Pakistan's high growth

According to reports from Pakistan's "Observer" and "Business Record" on July 21, the Asian Development Bank said in its supplementary "Asian Development Outlook" released on Tuesday that the Pakistani government's financial report shows that the fiscal year 2021 (July 2020 to 2021) June 2019) GDP growth rate was 3.9%, and the improvement in its growth rate was mainly due to Pakistan's strong industrial growth and stable remittance inflows. Inflation in Pakistan averaged 8.8% in the first 11 months of fiscal 2021 due to rising global commodity prices, especially food and crude oil.

At the same time, considering that the epidemic may slow down the recovery of Asian economies, the ADB lowered its forecast for the economic growth rate of developing Asian countries this year to 7.2% from 7.3% in April, and the expected growth rate in 2022 from 5.3%. It was revised up to 5.4%. Yasuyuki Sawada, chief economist of the Asian Development Bank, said that the Asia-Pacific economy is recovering from the new crown epidemic. The repeated epidemics, new virus variants and uneven promotion of vaccination have brought many uncertainties to the economic recovery. Beyond containment and vaccination measures, a phased strategic stimulus package will be key to ensuring the resilience of the economic recovery.

As a crane manufacturer that has been deeply involved in the Pakistani crane market for many years, Dongqi is very aware of the driving role of the development of a country's industrial industry on social development. The role of cranes is mainly to replace manual handling. With the rapid development of modern industrial production, the role of cranes has played a great role in various heavy industries and has become one of the indispensable equipment. Widely used in factories, ports, construction sites, mines, railways, hotels, residences and other places, bridges, construction tower cranes, single girder, double girder for steel trade, general metal processing workshop lifting parts, warehouse, port container lifting Etc., car cranes, etc. are all hoisting machinery. In the new year, we hope that Pakistan's industrial undertakings will rise to a higher level, and we also hope to do more socially meaningful work with our Pakistani customers.

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