Pakistan’s current inflation of 24.8 percent is likely to come down to 12.7 percent next year, IMF says.

Islamabad: The International Monetary Fund (IMF) says that Pakistan’s economic growth is expected to be 2 percent this year, while Pakistan’s growth rate is expected to increase to 3.5 percent in the next financial year.

According to the IMF report, the average inflation in Pakistan this year will be 24.8%, next year it will be 12.7%. The report said that unemployment in Pakistan is expected to reach 8 percent this year, 7.5 percent next year, while fiscal deficit is expected to be 7.5 percent this year and 7.4 percent of GDP next year.

Also read: IMF demands from the government to cut 183 billion rupees in expenses

According to the IMF, this year’s current account deficit will be limited to negative 0.8 percent of GDP, next year Pakistan’s current account deficit will be negative 1.2 percent.

Related: The government assured the IMF of the increase in electricity, gas rates