Economic situation of Pakistan is improving, Ministry of Finance
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The Ministry of Finance released the monthly outlook report for March, according to which the economic situation of Pakistan is improving.
The report of the Ministry of Finance said that a staff-level agreement has been reached with the International Monetary Fund (IMF), the last installment of 1.1 billion dollars of the loan will be received.
The report further stated that the government’s policy initiatives have reduced financing requirements.
The Finance Ministry’s report also said that the rabi season would yield good crops, with urea usage reduced by 4.2 percent this season.
According to the report, remittances decreased by 1.2% from July to February of this financial year and remained at 18.1 billion dollars.
According to the report of the Ministry of Finance, in the first 8 months of this financial year, exports increased by 10% to 20.5 billion dollars. Imports from July to February were 34.1 billion dollars with a decrease of 8.8%.
According to the report of the Ministry of Finance, the tax collection of FBR increased by 29.8% to 5 thousand 831 billion rupees in the period from July to February of this financial year.
According to the report, non-tax income increased by 105% to 2,140 billion rupees in the current financial year, while foreign direct investment decreased by 17% to 820 million dollars.
According to the Ministry of Finance, 210.7 billion rupees were released for the federal development program with a decrease of 1.6%.
According to the report, the budget deficit in the first 7 months of this financial year was 2 thousand 720 billion rupees with an increase of 38%. In the first 7 months of this financial year, the primary balance increased by 105% to 1 thousand 939 billion rupees.
According to the report, next month inflation will decrease to between 21 and 22 percent, this year the dollar rate has decreased by 5 rupees 54 paise.
The report of the Ministry of Finance said that the economic and financial position of Pakistan is improving every month.
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