2024-07-17 16:29:52
(Waqas Azim) The Asian Development Bank has released its Development Outlook, in which the government’s claim regarding the rate of inflation this year has been rejected.
According to the Asian Development Bank, the average inflation rate in Pakistan this year is likely to be 15 percent, while the federal government has set an average inflation target of 12 percent for the current fiscal year. Last fiscal year, inflation in Pakistan was lower than the Asian Development Bank’s estimate. Last fiscal year, Pakistan’s economic growth rate was higher than the Asian Development Bank’s estimate.
The average inflation in Pakistan in fiscal year 2023-24 was 23.41 percent, ADB had estimated the average inflation of Pakistan for the last fiscal year at 25 percent, ADB says that the economic growth rate of Pakistan in fiscal year 2023-24 is 2.4 percent, ADB had estimated the economic growth rate of Pakistan for the last fiscal year at 1.9 percent, ADB estimates that inflation in Pakistan in the second fiscal year will be higher than the government target, the economic growth rate of Pakistan for the current fiscal year is 2.8 percent. Likely to remain higher, the federal government has set an economic growth target of 3.6 percent for the current fiscal year.
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2024-07-17 16:29:52