ISLAMABAD: Pakistan has told the IMF that as a result of import restrictions and other measures, the current account deficit is likely to remain below Rs 4.5 billion, which would ease Pakistan’s external financing challenges. .
According to the sources, in the briefing given to the IMF, it has been stated that the economic growth will be 3 to 3.5 percent during the current financial year, while the inflation rate will be 21 percent and for the next financial year, the inflation rate will be 7 to 8 percent. The possibility of
During the negotiations for a standby arrangement of $3 billion, the Ministry of Finance has informed the IMF that the current account deficit is likely to decrease by $2 billion. Based on the assumption of accommodation, which was 9.6 billion dollars with an increase of 0.7 percent during the first four months.
Initially, the government had estimated imports of $54 billion during the current financial year, but the new estimate has been reduced by $10.4 billion. Imports during the first four months were $17 billion, which is compared to last year. It is 18.5 percent less.
Sources have said that the government hopes that remittances will exceed 30 billion dollars this fiscal year. A decrease in imports will reduce dependence on external financing on the one hand and on the other hand its negative impact will be reflected in the form of reduction in tax collections of FBR. External financing and high interest payments are the main points of ongoing negotiations with IMF.
Sources say that the IMF will release its review in the next few days.