ISLAMABAD :Pakistan's central bank said on Friday GDP growth was likely to remain significantly lower for financial year 2022-23 than the previous year, with highly elevated inflation. The forecast came in the bank's half-year report, which said Pakistan's macroeconomic conditions had deteriorated due to the
ISLAMABAD :Pakistan's central bank said on Friday GDP growth was likely to remain significantly lower for financial year 2022-23 than the previous year, with highly elevated inflation.
It gave no new figures for growth on Friday. In October, the bank revised GDP growth this fiscal year ending in June to 2 per cent, down from the 5 per cent estimated in the annual budget in June 2022.The International Monetary Fund said in April that the figure would be 0.5 per cent. The central bank report said the contraction in federal development expenditures in keeping with the deterioration in Pakistan's fiscal position had posed challenges for the FY23 economic outlook.
"Despite visible contraction in domestic demand, inflation ... has remained stubbornly persistent," the report said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pakistan's Imran Khan says he will not join corruption probeISLAMABAD: Pakistan's former Prime Minister Imran Khan, who is facing corruption charges, said on Thursday (May 18) he would not join an investigation by the powerful anti-graft agency w
Read more »
Pakistan's anti-graft agency summons Imran Khan for questioningISLAMABAD - Pakistan's powerful anti-corruption agency has summoned former Prime Minister Imran Khan for questioning on Thursday (May 18) into the graft charges that led to his arrest on May 9. A spokesman for the National Accountability Bureau (NAB), which has in the past investigated, put on trial and jailed all those who served as prime minister since 2008, said...
Read more »
Ex-Pakistan PM Khan says police surround his house, fears re-arrestISLAMABAD — Former Pakistani Prime Minister Imran Khan said on Wednesday (May 17) that police had surrounded his house and that he expected to be rearrested soon, after the government warned him to hand over supporters who it blamed for attacks on the army. Khan was arrested by a paramilitary force on May 9 on graft allegations, which he denies,...
Read more »
Pakistan ex-PM Imran Khan says police have arrived for possible arrestThe former cricket star had been arrested last week before a top court ordered Khan’s release last week. Read more at straitstimes.com.
Read more »
Pakistan police to search Imran Khan's home, says officialLAHORE, Pakistan - Pakistani police plan to search the Lahore home of former Prime Minister Imran Khan on Friday (May 19), a provincial government official said, an operation that could trigger more violence as the country grapples with political and economic instability. Amir Mir, the information minister of Punjab province, said hundreds of policemen, led by the city police commissioner,...
Read more »
El Nino costs trillions in lost economic growth, study showsConventional accounting neglected shortfalls in GDP that are harder to identify. Read more at straitstimes.com.
Read more »