KARACHI, Pakistan – Pakistan’s inflation rate will ease to around 20-22% in the 2024 financial year, said a report released by the country’s central bank governor on Friday.
It said the bank would continue to take decisions to prevent high inflation from becoming entrenched, adding the South Asian economy missed by a large margins its fiscal and primary surplus targets in FY23, with real GDP contracting to 0.2%.
The nation of 241 million experienced its highest ever inflation in FY23, with its currency dipping to historical lows until a $3 billion IMF bailout averted an imminent sovereign default in July.
Fiscal and policy measures taken prior and after the bailout are stabilising the $350 billion economy as the nation approaches a crucial national election on Feb. 8.
United Arab Emirates Dirham Exchange Rate
