Moody's Corporation
Business confidence in Pakistan reached a three-year high in May 2014 backed by increasing foreign reserves which crossed US$15 billion by mid-2014. In May 2014, IMF stated that inflation had dropped to 13% (compared to 25% in 2008), foreign reserves were in a better position and that the current account deficit had come down to 3% of GDP. "Standard &amp; Poor's" and "Moody's Corporation" changed Pakistan's long-term rating to 'stable outlook'. The World Bank stated on 9 April 2014 that Pakistan's economy was at a turning point, with projected GDP growth approaching 4%, driven by manufacturing and service sectors, better energy availability, and early revival of investor confidence.