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Economic Recovery & IMF
12 Facts • Last updated: Today
SBP maintains 22% policy rate
The State Bank of Pakistan decided to keep the benchmark interest rate unchanged at 22%, citing a downward trajectory in inflation but stressing the need for continued tight monetary policy to ensure economic stabilization in line with IMF program targets.
Current Account Deficit narrows
Pakistan's current account deficit shrank by 58% year-on-year in the first quarter of FY24, dropping to $947 million from $2.26 billion in the same period last year, primarily driven by restrictions on imports and a gradual recovery in exports.
FBR Revenue Collection Shortfall
The Federal Board of Revenue reported a massive tax collection shortfall for the first quarter, collecting Rs2.04 trillion against a target of Rs2.15 trillion, raising concerns about meeting the ambitious Rs9.4 trillion annual target set under the IMF standby arrangement.