KARACHI: The State Bank Of Pakistan predicts increase in inflation and increase in the prices of goods which has already disappointed the citizens.
According to the bank, the economic growth is said to remain below the target.
According to the SBP, It is difficult for Pakistan to achieve the targeted GDP in the ongoing year which is of 6.2 percent.
An economic review report was also issued which highlighted a few important points. According to this report the growth rate is said to remain between 4.7-5.2.
The report also covers two important areas of Pakistan for example the industrial and agricultural sector.
The industrial sector is expected to face slow progress and is said to become inactive as compared to the past.
Also the agricultural products are said to be affected. The agricultural progress is said to be worse than that of last year.
The sugar production is also said to be less but the rice production is said to be better due to the rain. In conclusion, both sectors are expected to show less progress.
This report further stated more problems of gas, electricity and increased rates of dollars.
The inflation rate was 6.0 percent initially but now it has increased to 6.5-7.5 percent. The GDP is also expected to remain below target.
Source: DIN News