Key Points
ISLAMABAD: Pakistans economic growth slowed sharply to one of the lowest levels in its history as its woes intensify amid record inflation and interest rates, along with a stalled International Monetary Fund bailout...
The National Accounts Committee reported gross domestic product provisionally expanded 0.29% for the fiscal year ending June 30, in a statement released on Thursday in Islamabad..
This is more managed decline, or decline by design, said Mohammed Sohail, chief executive of Topline Securities Ltd., adding this has helped the government control the current account deficit and maintain foreign exchange reserves at over $4 billion, despite debt repayments...
Political tensions ahead of elections due by October are adding further to the financial risks, as former premier Imran Khan shows no signs of backing down in his campaign against the government and the powerful military..
The first half of the financial year will be challenging as a new IMF deal is expected to take three to four months and then there will be some political stability after elections, so things will start improving after December, said Toplines Sohail..
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