Tag: growth
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PM Shehbaz says Pakistan needs another IMF programme
Prime Minister Shehbaz Sharif has said that Pakistan needs another International Monetary Fund (IMF) programme for economic stability. Recognizing the programme’s ‘limitations’, however, he said that alongside the loan, his government will focus on the country’s growth, provide job opportunities and address inflation. “We have to do another IMF programme. It won’t work out without…
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Pakistan’s mobile phone imports skyrocket, surpassing $987 million in first half of FY 23-24
Pakistan has witnessed a remarkable surge in mobile phone imports, reaching $987.539 million during the first half (July–January) of the fiscal year 2023–24.
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Pakistan’s exports surpass Rs4,300 billion, up by 35.33% in six months
The Pakistan Bureau of Statistics (PBS) has reported a substantial increase of 35.33 per cent in the country’s exports in rupee terms during the first half of the current fiscal year, as compared to the corresponding period of the previous year.
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Pakistan’s pharma industry exports soar to record-breaking $713 million in FY2022-23
Pakistan’s pharmaceutical industry has experienced an impressive surge in exports, reaching an all-time high of $713 million during the fiscal year 2022-23, according to sources cited by ARY News. The remarkable boost in exports can be attributed to the increased demand for surgical and medical equipment, as well as pharmaceutical products.
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Pakistan records 17% increase in exports to Afghanistan, SBP data shows
According to a report by the State Bank of Pakistan (SBP), Pakistan’s export of goods and services to Afghanistan has increased by 17.02 per cent during the first eight months of the current fiscal year (2022-23) compared to the corresponding period of the previous year.
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Pakistan’s GDP growth expected to remain below 3–4% in FY23: SBP
In its annual economic health report released on Wednesday, the State Bank of Pakistan (SBP) slashed its predicted GDP growth from the previously disclosed range of 3–4 per cent for the current fiscal year, citing flood-induced destruction and the stabilisation policy as important contributors.
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IMF expects Pakistan’s govt gross debt to decline by 6.7%
According to projections made by the International Monetary Fund (IMF), Pakistan’s government gross debt will decrease from 77.8 per cent of GDP in 2022 to 71.1 per cent in 2023. The predictions for Pakistan’s fiscal year 2022–2023, however, are made using data as of the end of August 2022 and do not take the current…
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IMF lowers growth prediction for FY23, cautions ‘the worst is yet to come’
The International Monetary Fund (IMF) on Tuesday warned that the worst was yet to come as it further cut its projection for global economic growth to minus 2 per cent amid persistently increasing inflation. According to Dawn, the global lender of last resort projected Pakistan’s GDP growth rate at 3.5 per cent and inflation at…
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India beats UK to become fifth-largest economy in the world
India has surpassed the United Kingdom to take over as the world’s fifth-largest economy. The country was ranked as having the fifth-largest economy after outperforming England in the first three months of 2021. The UK has moved up to the sixth spot from where it was rated during the 2019 fiscal year. According to a…
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ADB projects Pakistan’s economy to ‘recover slightly’ in FY23
In FY2023, Pakistan’s Gross Domestic Product (GDP) growth is expected to modestly improve due to structural changes, according to the Asian Development Bank (ADB). According to the bank’s most recent Asian Development Outlook Supplement, Pakistan’s GDP growth is predicted to decrease in FY22 (which ends on June 30, 2022), as a result of fiscal tightening…