ISLAMABAD: Economic growth projected at 2.4 percent in FY 2019/20 inflation expected to decline in the coming months, current account adjusting more rapidly than anticipated.
However, domestic and international risks remain, and structural economic challenges persist.
In this context, the authorities need to press ahead with their reform agenda. IMF to review economy and staff team plans to return to Pakistan in late-October to assess the end-September program targets.
Pakistan tax revenue collections also showed significant improvement taxes showing double-digit FBR is undertaking significant steps to improve tax administration and its interface with tax payers
Importantly, the social spending measures in the program have also been implemented economic reform program is still in its early stages, there has been progress in some key areas.
The transition to a market-determined exchange rate has started to deliver positive results on the external balance. Exchange rate volatility has also diminished, monetary policy is helping to control inflation, SBP has improved its foreign exchange buffers.
Pakistan’s economic program is off to a promising start, But decisive implementation is also critical to pave the way for stronger and sustainable growth.
IMF mission will also return to Pakistan in late-October to conduct the first review under the EFF.