The finance ministry maintained that domestic political conditions can not only further hamper the positive outlook of Pakistan’s economy but also aggravate the macroeconomic imbalances. The finance ministry stated in its monthly Economic Update and Outlook March 2022 that Pakistan’s economic performance remained strong and is still on a trajectory compatible with an economic growth target of around 5 per cent in the current fiscal year and if this trend continues in the next months, economic growth will be driven primarily by the expansion of manufacturing capacity. The ministry of finance said that remittances have increased to $20.1billion in the first eight months which was $18.7 billion from July to February 2022. In addition, exports have recorded $20.6 billion (28 per cent increase) whereas imports surged to $47.9 billion in eight months. On the other hand, the fiscal deficit also surged to Rs1862 billion comparable to Rs1309 billion from July 2021 to February 2022.

Source: Pakistan Today March 28, 2022 16:28 UTC