IMF welcomes improvement in Pakistan's economy
ISLAMABAD : The Executive Board of International Monetary Fund (IMF) has welcomed improvements in Pakistan’s economy as a result of economic reforms.
IMF Executive Board said Pakistan’s GDP growth has increased to 4.2 percent which was 3.7 percent in 2013, Radio Pakistan reported.
The Board said Pakistan’s economy has shown improvement since 2013 despite difficult circumstances. The Board appreciated Pakistan Government’s efforts to decrease fiscal deficit from 8.4 to 5.4 percent. It said there is a clear decrease in inflation in the recent years.
Board has lauded steps of the Government to increase revenue collection and decreasing subsidy on electricity. Pakistan’s foreign exchange reserves have also shown steady increase. IMF Board also appreciated restructuring of institutions running in losses.