PTI govt pleased over IMF’s economic indicators

ISLAMABAD: Federal Finance Ministry of Pakistan on Sunday has said that the government is doing “much better” than projected by the IMF on most macroeconomic indicators, including its rate of inflation.

The spokesman of the finance ministry said, there has been significant improvement in the external sector, adding that in the first quarter of the current fiscal year, the total current account deficit has narrowed by nearly two-thirds compared to the same period last year.

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The spokesman further said that in its first analysis of Pakistan’s economic performance, the Inter-National Monetary Fund (IMF) recognized that the government reform program was on track and producing results.

He said, the IMF recently released $452 million as the second tranche, pleased with the economic performance, taking overall disbursements to around $1.45 billion. The IMF report recognized an improvement in the business climate and a return to market confidence.

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He further said, the evaluation indicated that the government recognized that structural reforms were essential to reviving economic activity and development, especially in the public sector.