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Government to Complete Budget Targets Ahead of IMF Visit

The federal government of Pakistan has made the decision to finalize work on budget targets prior to the arrival of the International Monetary Fund (IMF) team. This move comes as the finance ministry has directed relevant ministries to meet their targets before signing a new loan deal with the IMF. The government will also seek approval for the budget strategy paper from the federal cabinet before the IMF mission arrives.

According to sources, the Prime Minister’s Office has assigned the economic team with the responsibility of completing the budget working. The IMF mission will provide suggestions to finance ministry officials regarding key targets.

In other news, recent economic reports indicate a positive trajectory for Pakistan’s economy, particularly in the agriculture sector. With increased production of wheat, rice, corn, and cotton, the agriculture sector has seen a growth rate of over 7 percent. Additionally, the Pakistani rupee has remained stable against the dollar, and the Pakistan Stock Exchange has experienced a bullish trend. Remittances sent by overseas Pakistanis have contributed to an increase in the current account by 619 million dollars. Furthermore, the current account deficit has decreased by 87.5 percent to 0.5 billion dollars, allowing the State Bank to maintain foreign exchange reserves of eight billion dollars. The Asian Development Bank predicts a significant decline in the inflation rate from 25 to 15 percent next year if the economy continues to perform well. The Special Investment Facilitation Council has played a crucial role in steering the economy in the right direction, leading to positive outcomes.

Earlier this year, the IMF approved the disbursement of a $1.1 billion tranche, marking the conclusion of the second bailout package in eight years. However, this achievement has come with consequences, including severe inflation and a slowing economy.

Source: [Dunya News](https://dunyanews.tv)