Islamabad: The Ministry of Finance says that despite the internal and external challenges, the policies and strategies formulated by the government for the stability and sustainable growth of the economy are improving the economic growth and supply chain. I decreased.
In the monthly economic update issued by the Ministry of Finance, it has been stated that due to the uncertain external and internal economic environment, the interim rate of gross national product is likely to remain at 0.29 percent in the current financial year. The uncertain external and internal economic environment and the devaluation of the rupee have also kept the inflation rate high.
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According to the report, due to the decrease in remittances, there are also problems in external payments, however, due to the policies formulated for monetary and financial stability, the economy has been put on a sustainable path. Which will affect the overall economic growth.
According to the economic update, in the first 10 months of the current financial year, overseas Pakistanis sent foreign exchange worth 22.7 billion dollars to the country, during this period, the volume of domestic exports was 23.2 billion dollars, while the volume of imports was recorded at 45.2 billion dollars.
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In the first 10 months of the financial year, the current account deficit has significantly decreased by 76.1% on an annual basis. In the first 10 months of the financial year, the current account deficit was recorded at 3.3 billion dollars, which was 13.7 billion dollars in the same period of the previous financial year. It was a dollar.
In this period, the volume of foreign direct investment was recorded at 1.170 billion dollars, which was 1.52 billion dollars in the same period of the previous financial year, the total foreign investment volume was recorded at 159.6 million dollars. On May 26, 2023, the exchange rate was recorded at Rs 285.16 which was Rs 202.01 on the same date last year.
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According to the Ministry of Finance, in the period from July to April, the FBR collected revenues of Rs 5.638 trillion, which is 16.1 percent more than the same period of the previous financial year. Revenues were collected.
Non-tax revenue increased by 26.2 percent, the volume of non-tax revenue was recorded at 1241 billion rupees, which was 983 billion rupees in the same period of the previous financial year, the release of funds for various projects under PSDP decreased at the rate of 27.2 percent. .
During this period, funds and grants worth Rs 329 billion were released under PSDP, which was Rs 452 billion in the same period of the previous financial year.
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According to statistics, in the first 10 months of the current financial year, the volume of financial deficit was recorded at 3535 billion rupees, which is 11.7% more than the 3165 billion rupees of the same period of the previous financial year. The period was negative 447 billion rupees.
According to the statistics, in the first 10 months of the financial year, 25.4 percent of the agricultural loans were recorded, during the current financial year, the volume of agricultural loans was recorded at 1327.8 billion rupees, which was 1058.7 billion rupees in the same period of the previous financial year.
Loans to the private sector amounted to 257.8 billion rupees, which is 80.4% higher than the same period of the previous financial year. On April 4, 2023, the policy rate was 21 percent.
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According to the statistics, the price index for consumers at the national level has been recorded at 36.4% compared to 28.2% in April, while the production of major industries has recorded a decrease of 8.1% during March.
According to the statistics, on May 25, 2023, the 100 index of the Pakistan Stock Exchange was recorded at 40,965 points, which was 41,630 points on July 1, 2022. The market capitalization volume was recorded at 21.78 billion dollars which was 33.99 billion dollars in the same period of the previous financial year.
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