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Tag: economic

  • How Much Will The Inflation Rate Be In 2024?

    How Much Will The Inflation Rate Be In 2024?

    Canada Global(Web News) Governor State Bank presented the economic review report of the financial year 2022-23 under the same BP Act 1956 in the Parliament. The report states that the financial year 2023 is unusual due to external and domestic economic setbacks. It was tough.

    The delay in the ninth review of the IMF’s expansionary fund program added pressure on the external accounts, inflation reached 29.2% in FY23, political uncertainty affected businesses and economic activity, monetary policy I developed contractions. The policy rate increased by a total of 825 basis points.

    Total assets of the banking sector grew by 17% in FY23. The governor has said in his report that fiscal policy and effective administrative measures must be taken for prices and financial stability. The report emphasized on reducing government expenditure, increasing productivity, and strengthening the supply chain of food and energy.

    The central bank will continue to take decisions to contain the deep effects of high inflation and contain inflationary expectations. The medium-term target of reducing inflation to 5-7% by the end of FY25 should be achieved. Ga. Inflation is expected to moderate at 20-22% in FY24.

  • World Bank projects two more dark years for Pakistan’s economic growth

    World Bank projects two more dark years for Pakistan’s economic growth

    Canada Global (Web News) The World Bank downgraded Pakistan’s current-year GDP growth by 1.6% to 0.4%, citing the disastrous consequences of the August 2022 floods, policy uncertainty, and dwindling foreign exchange supplies as factors that have slowed down economic activity.

    Furthermore, it painted a gloomy picture of Pakistan’s medium-term prospects by stating that the country’s economic recovery was predicted to be anaemic, at just 2 percent in 2023–2024 and 3 percent in 2024–25. The small budgetary space the government has to facilitate the recovery from flood-related losses is cited as the cause of this tendency.

    The World Bank predicted that the growth rate will remain at 2 percent in 2023–24, the next fiscal year, down 1.2 percent from an earlier prediction made in January of this year. This prediction was made in its most recent report, “Global Economic Prospects.”

    The most recent forecast was released shortly after the National Economic Council (NEC) on Tuesday announced a 3.5 percent growth objective for the next fiscal year.

  • Maryam Nawaz accuses Imran Khan of economic meltdown

    Maryam Nawaz accuses Imran Khan of economic meltdown

    Canada Global (Web News) Maryam Nawaz, senior vice president of the Pakistan Muslim League-Nawaz (PML-N), took aim at Imran Khan, chairman of the Pakistan Tehreek-e-Insaf (PTI), on Friday, claiming that he had led the nation into a mess.

    Speaking at a convention, Ms. Nawaz criticised Mr. Khan for making a deal with the International Monetary Fund (IMF), stating that by doing so, he had “put the country in grave economic troubles.”

    She stated: “Imran offers justifications when the court requests him to appear. Imran Khan becomes ill while testifying in court, yet he is still prepared to hold rallies.”

    Ms. Nawaz mocked Mr. Khan by asking, “Why PTI employees are there: to defend Imran. Imran ought to use the looted money to defend himself.”

    Maryam Nawaz, the senior vice president of the PML-N, asserted earlier today that Nawaz Sharif, the party’s leader, had been poisoned while being held captive, causing his platelet count to drop.

    She added that some individuals became concerned when Mr. Nawaz was fighting for his life, which led them to permit Mr. Sharif to leave the country. Imran Khan, the chairman of the PTI, was also involved in this [scheme], as time will show.