The Ministry of Finance released the monthly economic update outlook report

The Finance Ministry released the monthly Economic Update Outlook report, in which the caretaker government laid out the road map for the newly elected government.

The report stressed the need to conclude a final economic review with the International Monetary Fund (IMF), calling for an early agreement on a new loan program from the IMF.

The report said that as the economy is on the path to recovery from tough and unpopular decisions, the new government should make necessary reforms to restructure the FBR.

In the report, the privatization of loss-making institutions, including PIA, has also been declared mandatory, for difficult reforms, a medium-term facility will have to be taken from the IMF.

The report states that governance and financial performance in government-owned enterprises must be improved. The caretaker government met the targets under the agreement with the IMF.

According to the report, inflation this month is 25.5% and next month it will be 24.5%. From July to December, the primary surplus was 1500 billion rupees. Compared to the IMF’s target of 0.5%, the primary surplus was 1.5%.

According to the report, exports increased by 9.3% to 18 billion dollars in the first seven months. FBR’s revenue increased by 29.8% from July to December, 5149 billion was collected. Non-tax revenue increased by 116.5%.

The report states that remittances decreased by 500 million dollars in seven months of this financial year, remittances of 15 billion 80 million dollars were received in seven months, in the same period of the last financial year, remittances were 16 billion 30 million dollars. .

According to the report, a 9.3% increase in exports was recorded in the 7 months of this financial year, exports increased from 16.4 billion dollars to 18 billion dollars, a decrease of 11.1% was recorded in imports from July to January, imports were 33.5 billion dollars. down to 29.8 billion dollars.

The report added that current account deficit decreased by 71.2 percent in seven months, foreign direct investment decreased by 21.4 percent in seven months.

A 43% increase in fiscal deficit was recorded from July to January of this financial year, the primary balance increased by 103.6% in 7 months of this financial year.