However, according to the report, the stabilisation efforts and regulatory measures yielded notable improvements in several sectors during the first half of fiscal year 2020. The SBP’s projections for the average headline inflation for fiscal year 2020 remained broadly unchanged at 11-12pc. The fiscal deficit as a per cent of GDP reduced from 2.7pc in the first half of fiscal year 2019, to 2.3pc in the first half of fiscal year 2020. The decline in cotton production is also likely to undermine the agriculture sector’s performance in fiscal year 2020. As the situation is extremely fluid and highly uncertain, the economic outlook remains subdued compared to the pre-outbreak estimates,” said the SBP.

Source: Pakistan Today April 14, 2020 17:26 UTC