Pakistan Is On Way To Economic Growth, IMF Says

Pakistan Is On Way To Economic Growth, IMF Says|PakistanTribe.Com

Pakistan Is On Way To Economic Growth, IMF Says|PakistanTribe.Com

ISLAMABAD/KARACHI – According to International Monitory Fund (IMF) reports, Pakistan’s economy has improved improved due to prudent monetary and fiscal policies, strong capital inflows, robust remittances from abroad and lower oil prices, PakistanTribe received international media reports.

An international media outlet referring IMF reports stated that “Pakistan’s economy has improved, thanks to prudent monetary and fiscal policies, strong capital inflows, robust remittances from abroad and lower oil prices.”

It further quotes the statement of ‘Director of IMF’s Middle East and Central Asia Department, Masood Ahmed’ that “The authorities have made progress with consolidating macroeconomic stability, strengthening public finances and rebuilding foreign-exchange buffers.”

The paper further talks about inflation in Pakistan as it states “Pakistan’s central bank slashed its key interest rate in January by a full percentage point, to 8.5%, citing a slowdown in inflation, among other factors, amid plummeting oil prices and declining global prices for other commodities. January’s interest-rate cut came after a half-percentage point easing in November.”

The Director of IMF for Middle East and Central Asia suggests Pakistani government “Pakistan’s government to further bolster revenue by broadening the tax base and improving compliance, which would allow it to further reduce public debt while increasing spending in key areas such as health and education.”

He further advises Pakistan that “The Pakistani government should also reinforce and build on recent stability gains to work towards achieving higher, sustainable and inclusive economic growth.”


Do you have information you wish to share with PakistanTribeCom? Email our News Desk to share news tips, reports and general feedback. You can also email the Blog Desk if you have an opinion or narrative to share. Follow PakistanTribe on Twitter and Join us on Facebook

Video

Subscribe PakistanTribe’s YouTube Channel