IMF: Pakistan’s economy will grow 0.5% this year

Inspenet, April 16, 2023

The International Monetary Fund (IMF) released its growth forecast in its World Economic Outlook report this week in Washington. The report estimates that Pakistan’s economy will grow 0.5% this year, compared with 6% in 2022.

Meanwhile, the IMF forecasts inflation of 27% in the Islamic nation in 2023. It should be noted that the coalition government of Prime Minister Shahbaz Sharif is negotiating with the IMF a rescue package of 6,000 million dollars signed in 2019 by the previous government of Imran Khan.

Sharif’s government cut subsidies and raised taxes to meet the bailout conditions and receive $1.2 billion that has been frozen since December. These measures have caused increases in the prices of food, gasoline and electricity.

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