The prediction of the reduction of inflation and unemployment in Pakistan by the World Financial Institution
The average inflation rate during the year will be 24 percent, IMF said
This year, the budget deficit will be reduced, external debt will also decrease, foreign exchange reserves will increase
The average rate of inflation in 2023 was 29.2 percent while the average rate of inflation in 2022 was 12.1 percent.
Unemployment will also decrease during this year, the unemployment rate was 8.5% in 2023 which will decrease to 8%.
ISLAMABAD ( Web News )
The International Monetary Fund (IMF) has announced that inflation will decrease and job opportunities will increase in Pakistan this year. Reserves will increase. With the IMF approving a $700 million tranche for Pakistan on January 11, Pakistan’s economic indicators were also released in tabular form. According to the IMF, inflation in Pakistan will decrease to 18% by the end of 2024. The average inflation rate for the whole year will be 24 percent, which is lower than December’s rate of 29.4 percent. The average rate of inflation in the year 2023 was 29.2 percent while the average rate of inflation in 2022 was 12.1 percent. Unemployment will also decrease during this year. The unemployment rate was 8.5 percent in 2023, which will decrease to 8 percent. In 2022, the rate was 6.2 percent. Similarly, the IMF has estimated that the budget deficit will decrease this year, while external debt will also decrease, and foreign exchange reserves will increase. According to the IMF, Pakistan’s per capita income in 2023 is US$ 1,456. The poverty rate is 21.9 percent while Pakistan’s exports are $19.3 billion as of 2022.