KARACHI, Pakistan: The State Bank of Pakistan has released its Second Quarterly Report on “The State of Pakistan’s Economy” for the Fiscal Year 2019-20.
According to the report, stabilization efforts and regulatory measures have yielded notable improvements during the first half of Fiscal Year 2020.
The current account deficit has contracted to a six-year low, foreign exchange reserves have increased, the primary budget has recorded a surplus, and core inflation has lately eased.
Click Here to Read State Bank Second Quarterly Report on The State of Pakistan’s Economy for FY 2019-20
Importantly, export-based manufacturing has shown signs of traction and construction activities have picked up, indicating that the economy is on the path of recovery.
The progress under the International Monetary Fund (IMF) program has remained on track and the credit rating agencies maintained their stable outlook for Pakistan during the review period.
The report says that improvements having been achieved in some areas are tentative and require deep structural reforms to put the economy on a firm path towards sustainable growth.
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