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HomePakistanIMF forecast to reduce inflation and unemployment in Pakistan

IMF forecast to reduce inflation and unemployment in Pakistan

The unemployment rate in Pakistan this fiscal year is 8 percent, it is likely to decrease to 7.5 percent in the next fiscal year.

Commerce Reporter
London: The International Monetary Fund (IMF) has predicted a decrease in inflation and unemployment rate in Pakistan while releasing the World Economic Outlook Report.

According to Dawn TV, the IMF has also indicated the possibility of an increase in the economic growth rate of Pakistan, which was negative 0.2 percent in the last financial year.

The report said that the economic growth rate of Pakistan is expected to be 2 percent this fiscal year and the growth rate is expected to be 3.5 percent in the next fiscal year. In addition, the average inflation rate in Pakistan this fiscal year is expected to be 24.8 percent while It may come down to 12.7 percent in the next financial year.

It should be noted that the average inflation in Pakistan was 29.2% in the last financial year.

The International Monetary Fund also expects a reduction in the country’s unemployment rate, which was 8.5 percent last fiscal year.

He said that the unemployment rate in Pakistan is likely to be 8 percent this fiscal year and it is likely to decrease to 7.5 percent in the next fiscal year.

Apart from this, the current account deficit of Pakistan is likely to be 1.1% of GDP in the current financial year, but the current account deficit of Pakistan will increase to 1.2% of GDP in the next financial year.

Also covering the global outlook, the International Monetary Fund said global economic growth is expected to be 3.2 percent this year, up 0.1 percent from the January forecast.

Apart from this, the global inflation rate is likely to decrease to 5.9 percent, while it is likely to further decrease to 4.5 percent by 2025.

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