Pakistan Economic Outlook
Pakistan: Economic outlook looks bleak, says Ministry of Finance
Sukkur: Pakistan's Ministry of Finance on Thursday said the country's economic outlook remained uncertain and blurry while inflation would stick around the current level of 21 percent in the short term.
The Ministry made the observation amid the country's failure to stem rupee depreciation that was causing a price hike.
In its monthly economic outlook for July, the economic advisory wing underlined that the inflationary and external sector risks were building macroeconomic imbalances in the economy, reports The Express Tribune.
It added that the ongoing political unrest was increasing economic uncertainty, which was causing the rupee to depreciate, which also had an impact on the cost of production.
“All these factors are making the economic outlook uncertain,” stated the finance ministry. Halting investment decisions was further making the outlook blurry, it added.
“The higher interest rate followed by monetary contraction is also adversely affecting perception about the outlook of the economy.”
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