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Karachi, June 8, 2023: The State Bank of Pakistan’s (SBP) official foreign exchange reserves have dipped below the level of one-month import cover, according to data released on Thursday.
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Islamabad, June 8, 2023: Pakistan is set to achieve a significant reduction in its budget deficit for the fiscal year 2022-23, thanks to focused fiscal consolidation efforts, as revealed by the Pakistan Economic Survey 2022-23 on Thursday.
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Islamabad, June 8, 2023: Despite the devastating impact of flash floods during fiscal year 2022-23, the agriculture sector of Pakistan has recorded a growth of 1.55 percent, according to the Economic Survey of Pakistan released on Thursday.
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Islamabad, June 8, 2023: According to Finance Minister Ishaq Dar, Pakistan’s Gross Domestic Product (GDP) achieved a meager growth of only 0.29 percent during the fiscal year 2022-2023. This announcement was made during the unveiling of the Pakistan Economic Survey 2022-23 at a press conference.
(more…)The Pakistan Economic Survey for the fiscal year 2022-23 highlights the various challenges faced by Pakistan’s economy during this period. The geopolitical situation, difficult financial environment, and high inflationary pressures have all had a significant impact on the global growth prospects, and Pakistan was not immune to these challenges. Additionally, devastating floods and political unrest further exacerbated the economic situation, making FY2023 a challenging year for Pakistan’s economy.
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Islamabad, June 8, 2023: The Ministry of Finance in Pakistan is set to launch the Economic Survey of Pakistan for the fiscal year 2022-2023 today.
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Islamabad, June 4, 2023 – Prime Minister Muhammad Shehbaz Sharif has said that Pakistan and Turkey are set to increase their bilateral trade to $5 billion annually over the next three years.
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The delegation of Karachi Chamber of Commerce and Industry (KCCI) met Finance Minister Ishaq Dar to business support. The Finance Minister reassured that the government is committed to supporting the business and industrial sector to ensure economic growth and stability in the country.
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Karachi, June 2, 2023 – Pakistan’s import bill experienced a substantial increase of 43% in May 2023, reaching $4.28 billion compared to $2.99 billion in the previous month, according to official statistics released on Friday. In contrast, exports recorded a nominal increase, reaching $2.19 billion in May 2023 compared to $2.14 billion in April 2023.
(more…)Pakistan’s foreign exchange reserves have experienced a decline of $218 million, reaching $9.513 billion by the week ended May 26, 2023, according to a statement by the central bank.
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