Pakistan to unveil 2024-25 budget tomorrow

11 June, 2024

Pakistan’s coalition government is set to unveil fiscal targets in the 2024-25 budget tomorrow, 12 June 2024, which aims to strengthen its bid for a substantial new IMF loan anticipated to be between USD 6 billion and USD 8 billion.

The growth target for the upcoming year is set to be higher than 3.6%, an increase from the current 2%.

Finance Minister Muhammad Aurangzeb has been appointed to devise fresh policy solutions for the USD 350 billion economy.

Pakistan narrowly escaped default last summer thanks to a short-term USD 3 billion IMF loan. Although fiscal and external deficits have been curtailed, this has come at the expense of significant declines in growth and industrial activity, with inflation averaging nearly 30% last financial year and 24.52% over the past 11 months.

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