Based on its predicted Gross Domestic Product (GDP), Pakistan is set to become world’s 23rd largest economy by 2040, said United States Intelligence Report. The US Intelligence Report that is issued every four years predicted the performance of Pakistan economy, that currently sits at 39th position.
The assessment was included in this year’s Global Trends report by US National Intelligence Council (NIC), that is designed to help policymakers and citizens anticipate the economic, environmental, technological and demographic forces that are most likely to shape the world through the next 20 years. “Our intent is to help policymakers and citizens… prepare for an array of possible futures,” the authors wrote.
“Global economic activity has been tilting toward Asia during the past 40 years, reflecting its higher rate of economic growth in comparison with the rest of the world, large population, and reduction in grinding poverty — a trend that almost certainly will continue through at least 2030 and perhaps through 2040,” the report said.
Report also said that most of the Asian countries have potential to be positioned among the top economies of world by 2040. “If these trends continue, by 2040 developing countries in Asia are projected to account for approximately 35 per cent of global GDP, with India and China as the largest contributors at 29 per cent of global GDP,” the report said quoting Oxford Economics.
Report also underlined that by 2040 majority of nations with youth population would have to meet the need of their populations. Pakistan, Afghanistan and Egypt will be below median age threshold by 2040.
The report said that disease, rich-poor gap, climate change and conflicts within and among nations will lead to greater challenges in coming decades. Covid-19 pandemic can already be seen to worsen some of those problems.