Projecting the inflation rate to remain at around 9 per cent, the Ministry of Finance believes the overall macroeconomic indicators were leading the country to a long-term sustainable growth path. On the basis of this information, “headline inflation is expected to remain within a range of 7.8 to 9pc in September 2020” and inflation for the first quarter of FY2021 was expected to be around 8.4–9pc, compared to 10.1pc in the corresponding period last year. Hence, for the first quarter of FY2021, exports are expected to remain at around $5.2-5.8bn, as compared to $6bn during the same period last year. Imports are expected to be around $10.0-11.1bn for the first quarter this year, compared to $11bn of last year. Due to the better performance of non-tax revenues, the primary balance is expected to remain in surplus in the first quarter of this fiscal year, the report stated.

Source: Pakistan Today September 29, 2020 14:37 UTC