Govt releases two months economic outlook with inflation uncertainty
By News Desk
September 28, 2023 07:19 PM
The Ministry of Finance Thursday released its monthly economic outlook, which analyzes the performance of various indicators in the first two months of the current fiscal year.
According to the 24News HD TV channel, the report acknowledges the uncertainty regarding inflation, which rose to 27.8 per cent from 26.1 per cent last year.
However, it also highlights the improvement in the supply of goods due to the government's administrative measures, and the positive effects of the action against the illegal exchange rate.
The report noted that the difference between the inter-bank and open market rates of the dollar is narrowing and that the value of the dollar increased by 55 rupees in one year.
As per the report, remittances decreased by 21.6 per cent, exports decreased by 8.3 per cent, imports decreased by 26 per cent and the current account deficit decreased by 54.1 per cent in the first two months of this fiscal year compared to the same period last year.
Foreign investment increased by 47.6 per cent, FBR revenue increased by 27.2 per cent, non-tax income increased by 241.7 per cent and the fiscal deficit increased by 7.3 per cent in one year.
The report also shows a decrease of 16 per cent in the production of major industries.