Pakistan likely to reel under very high inflation in the H1 of 2023
There seems to be no respite for Pakistan at least in the near future as the country’s economy is likely to reel under very high inflation for quite some time.
Quoting a senior economist with Moody's Analytics, Reuters reported that Pakistan’s inflation will be at an average of 33% in the first half of 2023 before trending lower, and a monetary package from the International Monetary Fund is unlikely to put the country’s economy on a recovery path.
"Our view is that an IMF bailout alone isn't going to be enough to get the economy back on track. What the economy really needs is persistent and sound economic management," Reuters reported senior economist Katrina Ell as saying on Wednesday.
"There's still an inevitably tough journey ahead. We're expecting fiscal and monetary austerity to continue well into 2024," she added.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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