The objective of this report is toapprise the Government of Pakistan, think-tanks andresearchers, the public and The World Bank's seniormanagement of the state of Pakistan's economy, outlook,structural reforms and development challenges. The reportbegins with a chapter on economic developments, withsections on growth, fiscal policy, public debt, the externalsector, and inflation and monetary developments. The secondchapter provides a medium-term macroeconomic outlook anddescribes upcoming challenges, and structural reform needs.The third chapter focuses on progress against socialindicators. The final chapter addresses entrepreneurship inPakistan from the perspectives of jobs, enabling new startupbusinesses, women's entrepreneurship and export competitiveness.