Islamabad: The Ministry of Finance has claimed that the rate of inflation in the country will come down to below 10% very soon.
The Ministry of Finance released the monthly economic update outlook report, according to which the country’s economy is heading towards stability in the year 2024, while the situation will improve further after the agreement with the IMF.
According to the report, inflation was 11.8 percent in May, 12.6 percent in June 2024, inflation is likely to be 12 to 13 percent in July, and 11 to 12 percent in August. Current Account Deficit, Inflation Decreasing and Exchange Rate Stable While Agricultural Sector’s performance was good, Industrial Sector’s recovery continues.
Exports and remittances increased, with fiscal deficit at 4.9 percent in 11 months.
Exports in July are expected to be between 2.4 to 2.7 billion dollars while imports are estimated to be between 4.5 to 4.9 billion dollars in July. In July-May 2024, more than 1972 billion loans were given to the agriculture sector, the agriculture sector received 26% more credit than the previous financial year.
