Monthly Economic Update Outlook Report on economic indicators of the Ministry of Finance

The Ministry of Finance has released the monthly economic update outlook report on the economic figures, in which it is said that the process of gradual recovery of the country’s economy is going on.

According to the report of the Ministry of Finance, the stock exchange performed best in November.

It said that the performance of the agricultural sector is positive, the production targets for Rabi season have been achieved. Wheat production area in Punjab increased by 2%.

According to the report of the Ministry of Finance, foreign investment increased by 8.1 percent from July to November. Foreign capital was recorded at 69.48 million dollars.

Spending increased by 35 percent from July to October. Running costs increased by 44 percent from July to October, while interest payments increased by 63 percent during the same period.

According to the report of the Ministry of Finance, inflation is expected to be 28.5% in December. Inflation is expected to remain at 25% in January 2024.

The report stated that exports from August 2023 on a monthly basis were more than 3 billion dollars. Exports increased by 5 percent from July to November.

Imports fell by 16 percent from July to November. Current account deficit decreased by 64.5% from July to November. The budget deficit decreased by 31.9% from July to October.

The report said that remittances, large-scale manufacturing, and development expenditure recorded a decline from July to November, while remittances increased by 3.6 percent on an annual basis in the month of November.

It was also mentioned that inflation increased last month due to increase in prices of petroleum products, gas, electricity.

According to the report, this season wheat cultivation was done on 87 lakh 33 thousand hectares instead of the target of 90 lakh. Increase in exports, FBR revenue, credit to agriculture sector was recorded from July to November.