A man walks with bags of supplies on his shoulder to deliver them to a nearby store at a market in Karachi, Pakistan, June 11, 2024. — Reuters The IMF forecasts Pakistan’s GDP growth of 4% in 2026. Expects a 2.6% drop in energy commodity prices in 2025. It forecasts a 2.5% increase in the … Read more
IMF Managing Director Kristalina Georgieva speaks during a press briefing during the 2024 Spring Annual Meetings of the IMF and the World Bank in Washington, United States, April 19, 2024. — Reuters Higher interest rates persist, affecting global economic stability. Diverging regional growth trends highlight uneven recovery trajectories. The IMF warns of rising financing costs … Read more
The image shows the members of the KCCI committee. – Journalist As Pakistan faces economic uncertainty, the Karachi Chamber of Commerce and Industry (KCCI) has taken a crucial step towards promoting inclusive growth in the agriculture sector. The KCCI established an agricultural committee to foster collaboration between small and medium enterprises (SMEs), large businesses and … Read more
US dollars are counted by a banker who counts currency at a bank. —Reuters H1FY25 remittances increased 32.8% YoY Top remittance sources: Saudi Arabia, United Arab Emirates and United Kingdom. Higher incomes and digital infrastructure as drivers. Pakistan’s remittances reached $3.1 billion in December, an increase of 29.3 percent year-on-year, central bank data showed on … Read more
A man reads the newspaper while selling betel leaves, cigarettes and sweets at a shop in Karachi. — Reuters/File A useful monetary policy to support economic activity: report. Forecasts weaken agricultural growth due to heavy rains. Wheat and Cotton Expected to Perform Poorly in FY2025. ISLAMABAD: The Asian Development Bank (ADB), in its recent publication, … Read more
Finance Minister Muhammad Aurangzeb speaks during an interview in his office in Islamabad on July 19, 2024. — Reuters ISLAMABAD: Forecasting a strong current account surplus this year, Finance Minister Mohammad Aurangzeb on Monday ruled out any desperate measures that risked undue external pressure, thereby preserving hard-won economic gains. “Three years ago, the government stepped … Read more
People walk while shopping at a market in Karachi on April 19, 2023. — Reuters ISLAMABAD: The country’s economy demonstrated sustained positive developments during the first five months of the current fiscal year, with prudent fiscal management and strategic reforms paving the way for sustainable economic growth, the Ministry of Finance said on Friday. Finance. … Read more
AP Asia’s achievements were celebrated at the AP Asia broadcast event, which took place at a local hotel in Islamabad. — Image provided by event organizers After more than four years of dedicated efforts, the “Accelerating Prosperity” project in Central and South Asia (AP Asia), funded by the European Union (EU) and implemented by Accelerating … Read more
An Indian petrol pump employee counts Indian currency in Siliguri. — AFP/file NEW DELHI: India’s economic growth slowed to 5.4% year-on-year in the September quarter, official data showed on Friday, a significant decline from 6.7% in the previous quarter. Friday’s figure still places the world’s most populous country among the world’s fastest-growing major economies, but … Read more
Prime Minister Shehbaz Sharif has welcomed the State Bank of Pakistan’s decision to cut its policy rate by 2%, calling it a positive step for the country’s economy. He expressed optimism that lower interest rates would boost investor confidence and increase investments in Pakistan. “The reduction in the policy rate is a welcome step for … Read more