Islamabad: The Ministry of Finance has released an Economic Outlook Report based on the monthly economic situation of the country, which has shown positive progress in various economic indicators.
According to the report, the inflation rate during April was limited to 0.3 percent, while this month this rate is likely to be between 1.5 and 2 percent, which is considered good news for the public.
During July-April, exports increased by 6.8 percent to $27.27 billion, while imports increased by 11.8 percent to $48.61 billion, recording a trade deficit of $21.3 billion.
During this period, the current account recorded a surplus of $1.88 billion, while foreign direct investment declined by 2.8 percent to $1.78 billion. The State Bank’s foreign exchange reserves have reached $11.4 billion.
According to the report, tax revenue increased by 26.3 percent and non-tax revenue by 69.9 percent, with collections of Rs9,300 billion and Rs4,099 billion respectively.
The industrial sector also witnessed a mixed trend, with large-scale manufacturing (LSM) recording an annual growth of 1.8 percent, but a monthly decline of 4.6 percent. 12 out of 22 sectors showed positive performance.
An astonishing 95.8 percent growth in the auto industry, a 21.1 percent improvement in IT exports, and a significant increase in remittances are signs of improvement in the economy.
The report further stated that the issuance of green sukuk bonds is a significant step forward in environmental development. There is price pressure in the education and health sectors, while assistance of Rs. 409.4 billion was provided to deserving people under BISP.
