WASHINGTON: The International Monetary Fund (IMF) forecasts a rise in Pakistan’s trade imbalance.
According to reports, the IMF has estimated that Pakistan’s trade imbalance would expand in the coming fiscal year, with both exports and imports anticipated to grow.
According to the IMF, Pakistan’s trade deficit would likely expand by $4.165 billion in the current fiscal year. Pakistan’s imports are predicted to climb by $5.517 billion, while exports are expected to rise by $1.352 billion.
According to the IMF, Pakistan’s trade imbalance might reach $27.923 billion.
The next fiscal year’s import volume is expected to be $60.48 billion, with Pakistan’s exports predicted to be $32.56 billion.
Pakistan’s trade deficit for the current fiscal year is predicted to be $23.76 billion, with imports estimated at $54.96 billion. By the conclusion of the current fiscal year, exports are estimated to total $31.2 billion.
Previously, the International Monetary Fund (IMF) issued an official statement following consultations with Pakistan. The announcement confirms Islamabad’s formal request for a fresh loan package from the IMF.
From May 13 to May 23, an IMF mission led by Mission Chief Nathan Porter visited Pakistan and engaged in comprehensive talks to discuss the country’s economic achievements.
The statement underscores the Pakistani government’s earnest efforts to boost income and the importance of equitable tax collection from favored industries.
Maria Ghanchi