Friday, the International Monetary Fund (IMF) released a report about Pakistan. In the report, the IMF stressed the importance of increasing tax revenue and foreign exchange reserves.
In its country report, the IMF said that the political situation in Pakistan made it hard for the government to keep many of its promises and goals from last year.
It said that five goals, like foreign exchange reserves and the primary budget deficit, had not been met. It also said that seven structural goals had not been met.
Related: The rupee ends a string of losses when the IMF approves a loan tranche.
The report pointed out that the government took a number of steps to get the loan programme back on track and that Pakistan’s economy stayed strong during fiscal year 2022.
It also said that the government had announced a budget based on a primary surplus that raised interest rates a lot. Fuel subsidies were taken away. Prices for fuel and electricity went up.
“The rise in food and fuel prices around the world led to a big jump in inflation, and the Pakistani government has promised to take steps to keep the financial sector stable,” the report said.
