Earlier in September, the central bank had projected gross domestic product (GDP) growth of 2% for the current fiscal year. Earlier, the business confidence rose in August as businesses applied for long-term subsidised loans for at least 338 new projects. In addition to this, the collection of targeted tax revenue will remain a challenge for the economic managers, according to the central bank. These developments, along with optimism in the housing and construction sector, can help accelerate the economy’s recovery process in FY21,” the central bank noted. Overall, the central bank expects the headline inflation to fall within the range of 7-9% in FY21.

Source: The Express Tribune November 19, 2020 03:26 UTC