Pak Budget deficit to be 4.6pc: IMF

Posted on May 28, 2009

ISLAMABAD: International Monetary Fund (IMF) Thursday said that the unemployment rate is likely to increase in Pakistan, as the direct investment in the country and foreign remittances have gone down. Talking to media, IMF Country Director said the third installment of loan will be issued to Pakistan in July; whereas, Pakistan wants more loans in addition to the ongoing $7.6 billion loan programme. He said Pakistan’s request for loan is under consideration. The IMF official said that upcoming Pakistani budget will be 4.6 percent, GDP at 3.5 percent and the inflation rate will remain at 7.5 percent, adding the government needs to take care of the deprived sections of society. A ceremony was held here at Planning Commission, where an IMF economic report on Middle East and Central Asian region was issued.

Tags: Central Asian, IMF, IMF Country Director, International Monetary Fund, Middle East, Planning Commission, upcoming Pakistani budget