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Pakistan experienced a substantial decline of 90 percent in net foreign investment during the first ten months of the current fiscal year 2022-2023, as indicated by data released by the State Bank of Pakistan (SBP) on Tuesday.
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Pakistan’s current account deficit has witnessed a significant reduction of 76 percent during the first ten months of the current fiscal year 2022-2023, according to the State Bank of Pakistan (SBP).
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In the face of a challenging economic situation marked by stagflation, severe floods, and substantial financing needs, Pakistan has actively engaged with the International Monetary Fund (IMF) to address these pressing issues.
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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.
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