Tag: economic outlook
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Pakistan’s inflation expected to drop to as low as 9% by September 2024: Finance Ministry
Pakistan’s headline inflation is expected to ease further in August 2024, settling between 9.5 per cent and 10.5 per cent, with a continued downward trend anticipated in the coming months, according to the Finance Division’s statement on Friday.
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SBP’s foreign exchange reserves rise by $13 million
In a positive development for Pakistan’s economic landscape, the State Bank of Pakistan (SBP) reported a weekly increase of $13 million in its foreign exchange reserves, reaching a total of $8.05 billion as of February 9, according to data released on Thursday.
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SBP receives second IMF installment, total disbursements reach $1.9 billion
The State Bank of Pakistan (SBP) announced today that it has successfully received the second installment of SDR 528 million, equivalent to $705.6 million, from the International Monetary Fund (IMF).
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Govt’s bank borrowings jump 3.15x in six months
The government’s reliance on bank borrowings has displayed a concerning upward trajectory, intensifying the nation’s debt burden and raising doubts about its optimistic economic outlook.
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Gold prices in Pakistan wrap up first week of 2024 on a decline
The gold prices in Pakistan concluded the initial week of 2024 on a downward trajectory, witnessing a notable drop in the value of 24-karat gold.
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Inflation may drop to 20-22% in the coming year: SBP report
In the Governor’s Annual Report 2022–23, released ahead of the upcoming national election, the Chief of the State Bank of Pakistan (SBP) conveyed that the country’s inflation is expected to decrease to approximately 20–22 per cent in fiscal year 2024.
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Pakistan repays $5.4 billion of $24.6 billion external debt
The State Bank of Pakistan (SBP) governor revealed that Pakistan’s external debt obligations for Fiscal Year 2024 are $24.6 billion, as stated during the post-Monetary Policy Committee (MPC) meeting on Tuesday.
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Pakistan’s credit rating maintained by Fitch at ‘CCC’ amidst financing challenges
Fitch Ratings, a US-based credit rating agency, has maintained Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CCC,’ according to a statement released on Wednesday.
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Pakistan’s inflation soars to 29.2% in November, exceeding October figures
In November, Pakistan’s headline inflation surged to 29.2 per cent year-on-year, as reported by the Pakistan Bureau of Statistics, surpassing the October figure of 26.9 per cent. On a monthly basis, there was a 2.7 per cent increase. The average inflation for July-November reached 28.62 per cent, up from 25.14 per cent in the same…
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IMF review puts pressure on rupee as Pakistan negotiates loan tranche
The Pakistani rupee is anticipated to face continued depreciation against the US dollar in the upcoming week due to heightened demand from importers outweighing the supply from exporters, according to analysts.