Inflation and Unemployment are Likely to Decrease in Pakistan This Year- IMF



The International Monetary Fund (IMF) says that in the current fiscal year 2023-24, Pakistan’s economic growth rate is likely to be 2.5 percent, while unemployment is expected to decrease from 8.5 percent to 8 percent.

The IMF has released a report on the economic performance of Pakistan according to which the economic growth rate is likely to be 2.5 percent in the current fiscal year 2023-24.

Last fiscal year, Pakistan’s economic performance was negative 0.5 percent, while the government had claimed a positive GDP growth of 0.3 percent last year.

It is now predicted that unemployment will drop from 8.5% to 8% in 2024.

Average inflation is predicted to come down to 25.9 percent from 29.6 percent this year, while the fiscal deficit is expected to narrow slightly to seven and a half percent this year.

According to the IMF, the primary surplus is estimated to be 0.4 percent of GDP and Pakistan’s outstanding debt will decrease from 81.8 percent to 74.9 percent.

Apart from this, Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, says that Pakistan has to follow this program with full dedication.

Updated: July 29, 2023 — 3:55 am

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