Tag: economic

Ministry Identifies Key Economic Risks for Pakistan

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Economic-Risks

In a comprehensive assessment, the Ministry of Finance has pinpointed eight critical fiscal risks posing potential threats to Pakistan’s economy. These risks span macroeconomic imbalances, escalating debt levels, guarantees, climate degradation, State-Owned Enterprises (SOEs) losses, public-private partnership risks, provincial fiscal indiscipline, and governance challenges. Released in the Fiscal Risk Statement (FRS) for 2023-24, the Ministry underscores the volatility in Pakistan’s inflation rate, influenced by factors such as currency devaluation, global energy prices, and food costs. The depreciating Pakistani rupee, driven by trade imbalances, external debt, and geopolitical instability, exacerbates inflationary…

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Oil extends losses as economic headwinds weigh on demand outlook

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Oil-prices

SINGAPORE: Oil prices fell for a second day on Monday as economic headwinds pressured the global oil demand outlook and outweighed geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend. Brent crude fell 41 cents, or 0.5%, to $78.15 a barrel by 0105 GMT after settling down 54 cents on Friday. The front-month US West Texas Intermediate crude futures, for February delivery, inched down 2 cents to $73.39 a barrel with the contract set to expire later on Monday. The more…

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Economic future fraught with uncertainty: WEF

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ISLAMABAD: As the World Economic Forum began its annual session in Davos on Monday, the Chief Economists Outlook report says global economic prospects remain subdued and fraught with uncertainty. The global economy continues to grapple with headwinds from tight financial conditions, geopolitical rifts and rapid advances in generative artificial intelligence, says the report released by World Economic Forum. More than half of chief economists expect the global economy to weaken this year, while 43 per cent foresee unchanged or stronger conditions. A strong majority also believes labour markets (77pc) and…

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IMF board to review Pakistan tranche on Jan 11

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IMF-board

WASHINGTON/KARACHI: The Inter­national Monetary Fund (IMF) has included Pakistan on its Executive Board agenda for January 11, as reported on its updated website. During this meeting, the board is set to deliberate and potentially grant final approval for the disbursement of the next $700 million tranche under the existing $3 billion Stand-By Arrangement (SBA). According to the IMF Executive Board calendar, upcoming meetings are scheduled for Jan 8, 10 and 11, with Pakistan’s case slated for discussion on the last day. The current IMF programme, amounting to $3bn, is expected…

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Economic confidence hits new low

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Ipsos survey reveals anxieties over inflation, unemployment and poverty levels ISLAMABAD: Only one in ten Pakistanis believes that the country is heading in the right direction, with economic problems ranking as the most worrying issues for them, reveals a new opinion poll. The outcomes of the survey reflect the overall poor conditions of the country, yet the number seeing the economy as very weak has declined to 60%, according to the Consumer Confidence Index Survey conducted by Ipsos – a market research firm – last month. The survey revealed that…

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