ISLAMABAD: The International Monetary Fund (IMF) has kept its GDP growth forecast for Pakistan unchanged at 4% for fiscal year 2022, .
However, the Fund warned that rising inflation and external environment had increased near-term risks and sharply revised its forecasts for the country’s current account deficit and inflation.
The IMF now expects the current account deficit to rise to 5.3% instead of 4.1% — a previous forecast — by the end of June 2022, mainly due to imports of oil and commodities.
The lender had projected Pakistan’s current account deficit to hit $18.5 billion this fiscal year, as per the World Economic Outlook released in Washington. Previously, it had projected a deficit of $12.9 billion for FY2022.
IMF estimates that Pakistan requires gross external financing of over $35 billion in the current fiscal year on a current account deficit of 5.3% of GDP in FY2022.
ISLAMABAD: The International Monetary Fund (IMF) has kept its GDP growth forecast for Pakistan unchanged at 4% for fiscal year 2022, .
However, the Fund warned that rising inflation and external environment had increased near-term risks and sharply revised its forecasts for the country’s current account deficit and inflation.
The IMF now expects the current account deficit to rise to 5.3% instead of 4.1% — a previous forecast — by the end of June 2022, mainly due to imports of oil and commodities.
The lender had projected Pakistan’s current account deficit to hit $18.5 billion this fiscal year, as per the World Economic Outlook released in Washington. Previously, it had projected a deficit of $12.9 billion for FY2022.
IMF estimates that Pakistan requires gross external financing of over $35 billion in the current fiscal year on a current account deficit of 5.3% of GDP in FY2022.
