Pakistan makes a three-year strategy for its economy with a goal of 5.7% growth.

The federal government wants to raise the GDP growth rate to between 4.2% and 5.7% during the next three years. Other goals are to grow the national economy to Rs162,513 billion, raise exports by more than $10 billion, and set a new record for remittances at $44.82 billion.

The Ministry of Finance’s three-year Macroeconomic and Fiscal Framework says that exports, remittances, tax income, and the economy as a whole are all expected to rise a lot.

The estimate says that Pakistan’s exports will go up by more than $10 billion over the next three years, from $44.83 billion to $55 billion. Goods exports are expected to hit $42.69 billion, and services exports, which include IT services, are expected to reach $12.24 billion.

This year, goods exports are expected to be worth $35.28 billion, and services exports are expected to be worth $8.38 billion. Imports are likely to be up by $14.5 billion, bringing the total to $79.71 billion. In three years, remittances are estimated to reach an all-time high of $44.82 billion, up from $39.43 billion last fiscal year.

The International Monetary Fund (IMF) says that Pakistan’s economy will increase by 3.6% this fiscal year.

Sources say that during last week’s talks, which didn’t go anywhere, the IMF staff predicted growth of 3% to 3.5%, not the 3.6% that was expected. They claimed that the IMF thought that the recent floods had hurt the economy, especially the agriculture sector, because they had damaged a lot of Kharif crops.

Read more: The IMF says Pakistan’s economy would increase by 3.6%.

The Pakistani government has already lowered its lofty goal of 4.2% to 3.5%, and the World Bank has given a prediction of 2.6% for the same reason.

The sources added that the IMF was not expecting Pakistan’s economy to grow by more than 4.5% in the medium term. This is only possible if there is a significant increase in exports and investment.

During its meeting in December, the Executive Board of the IMF is expected to approve the third $1 billion payment to Pakistan under the Extended Fund Facility (EFF) program.

The Fund is also set to give $200 million for climate financing, which will be available under the Climate Resilience Financing mechanism.

The staff-level agreement between Pakistan and the IMF was signed on October 15. People from the Ministry of Finance are hopeful that the next payment in the loan program will be granted.