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Unemployment, inflation to go up in Pakistan: IMF
The report projected an inflation rate of 19.9 percent for 2023 against 12.1 percent in 2022
The International Monetary Fund (IMF) has released the World Economic Outlook report, foreseeing an increase in unemployment and inflation in Pakistan. The IMF also projected that unemployment will go up and will be standing at 6.4 percent for the current fiscal year against 6.2 percent for the last financial year.
According to details, the report projected an inflation rate of 19.9 percent for 2023 against 12.1 percent in 2022.
It added the unemployment rate in Pakistan may be 6.4 percent this year while joblessness was 6.2 percent in the previous year.
The WEO report said that the economic growth rate is likely to be 3.5 percent this fiscal year, it said adding that the current account deficit could be as high as 2.5 percent.
Reportedly, the 2022 projections for Pakistan are based on information available as of the end of August and do not include the impact of the recent floods.