Industrial and agricultural production improves while remittances increases

  • Economic activities in the country continue to accelerate, industrial and agricultural production has improved while tax revenue and remittances have increased.
  • In the first nine months, tax revenue rose by 10.9 percent to Rs 3395 billion. In the first nine months, Rs 534 billion was spent on PSDP.
  • The finance ministry said the fiscal deficit narrowed to Rs 1,603 billion, while agricultural loans rose 4.6 percent to Rs 953 billion.

Industrial and agricultural production improves while remittances increases

Improvement in countries economic activities and industrial and agricultural production

The Ministry of Finance has released a monthly updated outlook report on the country’s economy, according to which economic activities in the country continue to accelerate, industrial and agricultural production has improved while tax revenue and remittances have increased. ۔

According to details, the Ministry of Finance has released a monthly updated outlook report on the country’s economy.

According to the report, industrial and agricultural production improved while tax revenue and remittances increased, while remittances from July to March increased by 26% to 21.5 billion.

Domestic exports rose 2.3 percent to  18.7 billion, while imports rose 9.4 percent to 37.4 billion, with the current account balance once again recording a  1 billion surplus.

The finance ministry said foreign direct investment fell 35.1 percent to  1.39 billion, with foreign exchange reserves reaching  23.44 billion by the end of April. SBP’s reserves stood at  16.34 billion and other banks’ reserves at 77.10 billion.

According to the report, the exchange rate of the dollar reached Rs 153.46 per dollar. In the first nine months, tax revenue rose by 10.9 percent to Rs 3395 billion. In the first nine months, Rs 534 billion was spent on PSDP.

The finance ministry said the fiscal deficit narrowed to Rs 1,603 billion, while agricultural loans rose 4.6 percent to Rs 953 billion.

The report said that the annual rate of inflation declined to 9.1 percent in February. The growth rate of major industries reached 4.8 percent while the 100 indexes on the stock exchange crossed the level of 44,930 points.

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