The International Monetary Fund (IMF) has acknowledged that Pakistan’s monetary system has been badly affected all through the Coronavirus epidemic, it predicted that Pakistan’s monetary growth worth will likely be one % in FY20-2021.
The IMF has slashed Pakistan’s growth worth by one %, whereas the federal authorities has projected a GDP growth worth of two.1 % for the current financial 12 months.
IMF forecasted the widespread inflation worth at 8. Eight % and the current account deficit at 2.5 of GDP. It had an estimated current account deficit at 1.1 % closing 12 months. In 2020, the monetary growth worth could be minus 0.Four %.
The International Monetary Fund (IMF) has warned in its Economic Outlook report that the world economies will bear the shortage of $28,000 billion on account of the pandemic.
The world monetary system will fall 4.Four %, whereas India, Italy, and Spain could be the hardest-hit nations. According to the IMF, totally different world economies, along with the United Kingdom, will proceed to say no with no indicators of enchancment. The International Monetary Fund says economies will take a really very long time to get higher and the state of affairs will keep not sure.
It may be recalled that in an announcement issued yesterday regarding the meeting of the National Price Monitoring Committee chaired by Finance Advisor Dr. Abdul Hafeez Sheikh, it was acknowledged that on account of coronavirus and updated rains, prices of merchandise in Pakistan have gone up.
According to an official assertion, prices of wheat, sugar, tomatoes, onions, potatoes, and rooster, and totally different necessary commodities have been moreover talked about on the meeting. Finance Adviser, Abdul Hafeez Sheikh had directed that every one doable steps be taken to produce discount to the consumers.