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Economy faces high inflation and external sector pressure: report

ISLAMABAD: economy of Pakistan is experiencing strong inflationary and external economic pressure due to higher commodity prices, the finance department said in a statement.

government takes everything possible measures to counter this pressure in order to growth momentum would be remain safe and sound, finance division said in published monthly economic forecast on Thursday.

The report says that recent flash floods caused by exceptionally heavy monsoon rains reduced potential output of both main and Minor Kharif (monsoon sowing season in Pakistan) grows this year, thereby softening the positive mood of agricultural sector.

Highlighting global scenario, the report states that geopolitical tensions remain persistent global inflation remains high interest rates show US rise trends dollar strengthens.

He noted that the external environment was facing increase challenges surrounded by global and inner uncertainty.

It’s further added what government took the necessary measures to comply with International Monetary Fund requirements.

“This further increased inflation, but also made positive effect of easing external funding restrictions,” the report says.

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Sandra Loyd
Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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