*ISLAMABAD: The International Monetary Fund (IMF)** report reveals newfacts about Pakistan Economic conditions.*
*IMF reports says Pakistan’s economic growth rate is projected at 2.4 percent during the current financial year of 2019-20 and inflation is expectedto decline in the coming months.*
The delegation of the International Monetary Fund (IMF) led by ErnestoRamirez Rigo concluded its visit to Pakistan during September 16–20. Alinkdeclaration was released by the financial institution after its missioncompleted its visit to Pakistan after reviewing economic developments sincethe start of the Extended Fund Facility (EFF).
Ernesto Ramirez Rigo along with his delegation met top government officialsduring the visit and discussed progress in the implementation of economicpolicies.
Mr Rigo issued the statement at the conclusion of the staff visit, said,“While the authorities’ economic reform program is still in its earlystages, there has been progress in some key areas. The transition to amarket-determined exchange rate has started to deliver positive results onthe external balance, exchange rate volatility has diminished, monetarypolicy is helping to control inflation, and the SBP has improved itsforeign exchange buffers.”
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“There has been a significant improvement in tax revenue collections, withtaxes showing double-digit growth net of exporters refunds. Moreover, theFBR is undertaking significant steps to improve tax administration and itsinterface with taxpayers.”
“There has been a significant improvement in tax revenue collections, withtaxes showing double-digit growth net of exporters refunds. Moreover, theFBR is undertaking significant steps to improve tax administration and itsinterface with taxpayers.”
“Staff and the authorities have analyzed the worse than expected fiscalresults of FY2018/19, which were partially the result of one-off factorsand should not jeopardize the ambitious fiscal targets for FY2019/20.Importantly, the social spending measures in the program have beenimplemented.”
