The Ministry of Finance has released the monthly economic outlook report. According to report, the inflation rate in March was recorded at 7.30 percent. However, it was feared that there will be an increase in inflation in April compared to March. The inflation rate in April is estimated to be between 8 and 9 percent.
The Ministry of Finance said despite geopolitical tensions, the country’s economy appears stable as key economic indicators remained stable. The Ministry of Finance said large industries, LSM, registered growth continuously.
The report said there was a significant recovery recorded in automobile sector and an increase in cement shipments indicated that domestic demand was improving.
Based on positive momentum, economic activities were expected to remain strong. The report said due to ongoing supply chain issues, global commodity prices increased due to war in the Middle East resultantly risks such as price hikes and supply disruptions persist in Pakistan.
The Ministry of Finance said the external sector expected to remain robust on rise in remittances, IT exports, an overall economy appears in better position to maintain growth momentum. The strong economic fundamentals and timely government policies can help mitigate potential negative impacts.
