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Pakistan’s foreign exchange reserves have witnessed a decline, reaching $9.99 billion by the week ending May 5, 2023, according to the latest data released by State Bank of Pakistan (SBP).
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The Economic Coordination Committee (ECC) of the Cabinet, chaired by Minister for Finance and Revenue Senator Mohammad Ishaq Dar, convened on Wednesday and approved the execution of the settlement agreement for the Roosevelt Hotel in New York.
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Pakistan’s tax to GDP ratio has declined to 6.7 percent during first nine month (July – March) 2022-2023 as compared with 7.2 percent in the same period of the last fiscal year, official statistics revealed.
(more…)According to the State Bank of Pakistan (SBP), Pakistan’s foreign exchange reserves increased to $10.043 billion by the week ending April 28, 2023, up $19 million from the previous week.
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Pakistan’s economy has been hit hard as the country’s exports fell by 12% during the first ten months of the current fiscal year, according to data released by the Pakistan Bureau of Statistics.
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According to official statistics released on Tuesday, Pakistan’s headline inflation reached a historic high of 36.4% in April 2023.
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Pakistan’s economy is still facing significant challenges, with high inflation and a slowdown in economic activity. Persisting risks to the fiscal side are consequent to below the target set for the first nine months of the current fiscal year.
(more…)Headline inflation in Pakistan is set to reach a historic high of 36.5% in April 2023, according to analysts at Arif Habib Limited on Friday.
(more…)Pakistan’s foreign exchange reserves have improved to over $10 billion by the week ended April 20, 2023, according to the State Bank of Pakistan (SBP).
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On April 27, 2023, a report stated that Pakistan’s economy is facing critical challenges that require urgent solutions. To address these challenges, the country must unlock foreign flows, which are crucial for its economic stability.
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