The Ministry of Finance’s monthly economic report forecasts a further decrease in Pakistan’s inflation rate, which is anticipated to range between 13.5% and 14.5% in May. The report highlights ongoing negotiations with the IMF for a new loan program, emphasizing its importance for stable policies and increased investment. Additionally, the report notes a 6.25% increase in agricultural production and emphasizes the importance of consistent policies for economic stability. Weekly inflation, as measured by the Sensitive Price Indicator, has seen a sixth consecutive decrease, with price fluctuations observed across various items.
ISLAMABAD: The Ministry of Finance has released its monthly economic report, predicting further drop in inflation in Pakistan, ARY News reported.
According to the report, the country’s inflation is expected to remain between 13.5% and 14.5% in May.
The ministry of finance stated that signs of economic recovery have started to appear.
The report also said that formal negotiations have begun with the International Monetary Fund (IMF) for a new three-year loan program. The IMF loan program is crucial for stable policies, according to the report.
The ministry expects that the loan program will increase investment in the country.
The report also stated that agricultural production has increased by 6.25% this year. Consistency in policies is essential for economic stability, the finance ministry emphasized.
The weekly inflation measured by the Sensitive Price Indicator (SPI) witnessed a sixth straight decrease by 0.34 percent for the combined consumption group during the week ended on May 23.
During the week, out of 51 items, prices of 12 (23.53 percent) items increased, 18 (35.29 percent) items decreased and 21 (41.18 percent) items remained stable.
Some of the items, prices of which, increased during the period under review include beef with bone (0.49 percent), pulse gram (0.42 percent), tea prepared (0.30 percent), mutton (0.25 percent), gur (0.22 percent), curd (0.11 percent), milk fresh (0.06 percent) and pulse mash (0.01 percent).
As the year progresses, there is encouraging news about the inflation rate in Pakistan. The economy is showing signs of stabilization as the inflation rate is expected to drop further. This positive trend offers hope for businesses and consumers in the country. With decreasing inflation, the cost of living is anticipated to become more manageable, providing relief to individuals and families. Economists attribute this projected decline in the inflation rate to various factors, including prudent monetary policies and improved stability in key sectors. The government’s efforts to address economic challenges are evidently yielding positive results. It is vital for all stakeholders to remain vigilant and proactive in sustaining this favorable trajectory. As the nation anticipates a lower inflation rate, we look forward to continued progress and stability in Pakistan’s economic landscape.
Source: ARY NEWS
Inflation, Pakistan, Ministry of Finance, economic report, drop, expected, 13.5-14.5%, economic recovery, negotiations, International Monetary Fund, IMF, loan program, investment, agricultural production, stability, policies, Sensitive Price Indicator, SPI, decrease, items, prices, beef, pulse gram, tea, mutton, gur, curd, milk, pulse mash. The Ministry of Finance in Pakistan projects a further decline in inflation, expecting it to range between 13.5% and 14.5% in May. The report emphasizes signs of economic recovery and formal negotiations with the IMF for a new three-year loan program. Increased agricultural production and a sixth consecutive decrease in weekly inflation are also highlighted. Stability in policies is crucial for economic stability.
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