Tag Archives: Economic Growth

Pakistan Economy: A Roadmap to Sustainable Growth and Fiscal Stability

Pakistan

Pakistan’s economy stands at a critical juncture, with the government and stakeholders working tirelessly to steer the nation toward sustainable growth and fiscal stability. As we look ahead to FY25, several key initiatives and reforms are set to shape the economic landscape. From fiscal consolidation to structural reforms and IMF support, here’s a comprehensive overview of Pakistan’s economic roadmap. The …

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Pakistan and IMF Prepare for Resilience and Sustainability Facility (RSF)

Introduction Pakistan and the International Monetary Fund (IMF) are making strides in preparatory work for the Resilience and Sustainability Facility (RSF). The RSF aims to address critical economic challenges while fostering long-term sustainability and resilience. This collaborative effort reflects Pakistan’s ongoing commitment to economic reforms and its relationship with the IMF. What Is the Resilience and Sustainability Facility (RSF)? Overview …

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PSX Maintains Bullish Trend as KSE-100 Crosses 94,000 Points

PSX

The Pakistan Stock Exchange (PSX) continued its robust rally on Thursday, with the KSE-100 index surpassing the 94,000-point mark during intraday trading. This surge reflects growing investor confidence, driven by economic stability and positive market sentiment towards blue-chip stocks. The day began with a strong 547-point surge, pushing the index to 93,903 points. As the trading session continued, the market …

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Pakistan’s Forex Reserves Cross $11 Billion Amid Positive Economic Indicators

SBP

Pakistan’s Forex Reserves Reach $11 Billion After 30-Month Gap Pakistan’s foreign exchange reserves, held by the State Bank of Pakistan (SBP), rose to over $11 billion as of October 11, 2024. This marks an increase of $215 million in a week and a significant milestone after 30 months. The reserves have grown for 12 consecutive weeks, reflecting an overall increase …

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Surge in Remittances: Overseas Pakistanis Send Nearly $3 Billion for Fourth Straight Month

Overseas Pakistani Remittances Near $3 Billion for the Fourth Consecutive Month In a remarkable display of financial support, overseas Pakistanis sent $2.943 billion in remittances during August 2024, marking a 40% increase compared to the same month last year when the inflow was recorded at $2.094 billion. This significant rise in remittances underscores the continued dedication of expatriate Pakistanis to …

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Pakistan’s Merchandise Exports Surge 16% in August

Trade

Merchandise Exports Show Strong Growth in August Pakistan’s merchandise exports increased nearly 16% to $2.74 billion in August 2024, compared to $2.36 billion in the same month last year, according to data released by the Pakistan Bureau of Statistics (PBS) on Tuesday. The growth momentum picked up in August due to improved international orders and exchange rate stability. On a …

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Surge in Central Government Debt: A Growing Concern for Pakistan

The central government debt of Pakistan surged by Rs8.07 trillion, or 13%, during the previous fiscal year, bringing the total debt to a staggering Rs68.9 trillion by the end of June 2024, according to data released by the State Bank of Pakistan (SBP) on Thursday. The significant rise in debt highlights the growing financial challenges faced by the government and …

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Finance Ministry Projects Fiscal Deficit and Economic Outlook

Fiscal Deficit Forecast The finance ministry has projected a substantial increase in Pakistan’s fiscal deficit, estimating it could reach Rs9.655 trillion in the upcoming fiscal year. This projection reflects ongoing concerns about managing public finances amid rising debt obligations. Economic Growth and Inflation Despite the deficit projection, the finance ministry anticipates economic growth to rise by 4.8% during the fiscal …

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World Development Report 2024: Navigating the Middle-Income Trap

Challenges Facing Middle-Income Countries The ‘World Development Report 2024’ highlights the significant challenges middle-income countries face as they strive to transition to high-income status. Rising debt, aging populations, protectionism in advanced economies, and the pressures of accelerating the energy transition are key obstacles. Current Status and Aspirations There are currently 108 countries classified as middle-income, many of which aspire to …

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Businessmen Group Urges Government for Long-Term Export Strategy

The Pakistan Business Forum (PBF) has addressed a letter to Prime Minister Shehbaz Sharif, urging the development of a comprehensive long-term export strategy to support Pakistan’s economic growth. PBF President Khawaja Mehboobur Rehman highlighted the need for policy consistency and parliamentary endorsement to ensure stability and foster confidence among businesses, investors, and trade partners. Need for Policy Consistency The PBF …

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