Pakistan's economy to see robust growth this year: PM

COLOMBO, Sri Lanka

Pakistan's economy is expected to grow at more than 5 percent in the current fiscal year (2015-2016) with the help of economic reforms, Pakistani Prime Minister said on Tuesday.

Speaking at a forum on an official visit to Sri Lanka, Nawaz Sharif said the economy has progressed well despite the ongoing fight against extremism and terrorism.

"Democracy creates far better opportunities for both economic growth and cultural progress than authoritarian regimes," Sharif said. "My government has placed strong emphasis on bold economic reforms to achieve significant improvement in economy."

The country benefited from lower prices of oil and commodities last year, achieving 4.2 percent growth in the previous fiscal year, he said.

Separately, a September of 2015 report from the International Monetary Fund (IMF) noted that Pakistan's economic activity is improving.

The IMF said that vulnerability to external shocks was reduced, and the country's fiscal position was stronger.

The IMF called for further efforts by the Pakistani government against money laundering and the financing of terrorism.