Inflation, unemployment to rise in Pakistan current FY: IMF

Inflation, unemployment to rise in Pakistan current FY: IMF Inflation, unemployment to rise in Pakistan current FY: IMF

Islamabad: The International Monetary Fund (IMF) in a report released on Pakistan's economy stated that unemployment and inflation will increase this year.

 

The IMF and the government's figures were also contradictory to one another when it came to inflation. As per the report, the government has projected the inflation rate to be at 6.5% during the current fiscal year, while the IMF projects it to be at 8.7%.

IMF report stated that Pakistan's growth rate is expected to be 1.5 per cent this year and the government has forecast a growth rate of 2.1 per cent, while the State Bank of Pakistan has projected a growth rate of 3 per cent.

The unemployment rate in Pakistan is predicted by the IMF report to increase by 1.5% during the current fiscal year.

The IMF has projected Pakistan's current account deficit to remain at 1.5% of the country's gross domestic product (GDP), while the government has projected it to be 1.6% of the GDP this fiscal year.

The international money lender said Pakistan's growth rate will improve to 4% in the next fiscal year.

 

 

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