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Pakistan’s Inflation Rate Is Expected To Remain At 18.5%, The IMF Warns

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Pakistan's Inflation Rate Is Expected To Remain At 18.5%, The IMF Warns

(CTN News) – Despite the IMF’s warning, the rate of inflation in Pakistan is expected to remain at a high of 18.5 per cent, while rates of inflation in rural areas are predicted to remain at 25.9 per cent in the next two years.

As per the latest report of the International Monetary Fund, the pressure of external payments on Pakistan will not end immediately, but the pressure of external payments will gradually end over a period of time and the current account deficit is expected to remain at 1.6% of the total economy.

In a recent report, the International Monetary Fund (IMF) predicted that financial institutions’ funding delays will affect the economy and put pressure on the stock exchange rates in the short term.

In the report, it is alarming that the people of Pakistan are likely to be severely affected by inflation even before food items become expensive in the world market due to inflation even before food items become costly on the world market because of inflation.

In a statement, the IMF made it clear that salaries and pensions of employees of the government are not expected to improve until June, and that as a result, 61 billion rupees less will be available for development budgets as a result.

The report also requests that the Pakistani institutions issue timely notifications regarding additions to electricity and gas tariff rates by Nepra and Ogra, together with the requirement that gas rates must increase half-yearly, as stated in the report, so as to ensure consistency between the two.

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