Published On: Fri, Jan 17th, 2014

Pakistan State Bank Forecasts Upbeat 4pc growth

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Corporate News (Pakistan News) state bank

Corporate News (Pakistan News)

State bank of Pakistan, on wednesday 30th June 2013 announced their forecast made of economic growth rate for current fiscal year 2014 which they expect to be 4%. The projected forecast made by SBP seems promising by exceeding the last years rate of 3.6%. However, the growth rate computation made by International Minetary Fund(IMF) is only 2.5% for current fiscal year ’14.

With a $6.7 billion loan package allocated to Pakistans economy,  the SBP forecasts a stability in domestic foreign exchange market. Main spending of these loans would be in energy sector, major macro economics projects and hardly-surviving tax system. With such Huge amount being injected into the economy, there is expected to be an increase in Inflation rate to 11%, which had fallen less than 10% in 2013.

Massive energy crisis have already shaken the economy of Pakistan, yet fighting taliban who every now and then are breaching the national security remains the top issue confronting the country.

To cater the demand of whole population, economists feel the growth rate should atleast be 7%.

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