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In the aftermath of inconclusive elections that failed to produce a clear majority for any political party, Moody’s Investors Service has highlighted the clouded credit rating outlook for Pakistan due to the ensuing political uncertainty.
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Islamabad, February 13, 2024 – In a significant move aimed at providing relief to the targeted beneficiaries of the Benazir Income Support Programme (BISP) during the holy month of Ramazan, the Economic Coordination Committee (ECC) of the Cabinet has approved a Rs7.492 billion Ramazan Relief Package.
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Karachi, February 12, 2024 – Pakistan’s economic landscape is grappling with a significant challenge as the State Bank of Pakistan (SBP) reveals that the country’s public debt has surged to 74.8 percent of the Gross Domestic Product (GDP) by the end of December 2023.
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February 11, 2024 – In the aftermath of Pakistan’s General Elections on February 8, 2024, analysts at Arif Habib Limited are highlighting the formidable challenges facing the new government, particularly in negotiating a new loan program with the International Monetary Fund (IMF) and formulating the budget for the fiscal year 2024-25.
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Karachi, February 9, 2024 – Pakistan’s economic landscape is under scrutiny as the State Bank of Pakistan (SBP) revealed a significant decline of $165 million in the country’s foreign exchange reserves for the week ended February 2, 2024.
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Islamabad, February 2, 2024 – Pakistan’s import bill has experienced a substantial decline of 14.11 percent during the first seven months (July – January) of the fiscal year 2023-24, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday. This decline reflects a positive trend in the country’s trade balance.
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The headline inflation based on Consumer Price Index (CPI) increased by 28.3 percent year on year (YoY) basis in January 2024, Pakistan Bureau of Statistics (PBS) revealed on Thursday.
(more…)Pakistan faces a concerning economic setback as official data from the State Bank of Pakistan (SBP) reveals a significant decline of $78 million in the country’s weekly foreign exchange reserves.
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Karachi, January 29, 2024 – The Ministry of Finance in Pakistan has announced that the budget deficit for the first half of the fiscal year 2023-24 (July to December) has expanded to 2.3% of the Gross Domestic Product (GDP).
(more…)Karachi, January 29, 2024 – Analysts from Arif Habib Limited are forecasting a decline in the year-on-year (YoY) headline inflation rate for January 2024 to 27.3%.
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