The analyst of the international credit rating agency Moody’s regarding Pakistan’s economy says that the inflation rate in Pakistan may be 33% in the first 6 months of this year.
While giving an interview to the news agency, the Moody’s analyst said that the IMF package alone is not likely to restore Pakistan’s economy. A strong, consistent administration is needed.
As food prices rise, Pakistan will have to make payments, which will increase poverty, as imports become more expensive due to the devaluation of the rupee.
The news agency says that the increase in the price of energy will also increase the rate of inflation, monetary policy has to be tightened to control inflation in Pakistan, the rate of economic growth in Pakistan is expected to be 2.1 percent this year.
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