IMF cuts Pakistan’s FY24 growth forecast to 2pc

The International Mon­etary Fund (IMF) has acknowledged that Paki­stan’s economic activity has stabilised and infla­tion has begun to gradu­ally decline on the back of strong policy adjustment.

In its country report on Pakistan, the inter­national lender said that external pressures have eased somewhat since June last year and the State Bank of Paki­stan has taken advan­tage of renewed inflows to begin rebuilding for­eign exchange reserves.

The IMF report further states that Pakistan’s fiscal per­formance has also im­proved with the gov­ernment achieving a primary surplus in the first quarter of this fis­cal year. Welcoming this progress, the IMF warned that the outlook is still challenging.

Read more: https://www.nation.com.pk/21-Jan-2024/imf-cuts-pakistan-s-fy24-growth-forecast-to-2pc