Sunday, December 4, 2022

IMF fears an increase in unemployment in Pakistan this year

IMF fears an increase in unemployment in Pakistan this year

ISLAMABAD (92 News) - The International Monertary Fund (IMF) has expressed fear of an increase in unemployment in Pakistan this financial year. 

According to the World Financial Institution, the unemployment rate will increase from 6.2 to 6.4% this fiscal year, while the inflation rate is expected to be 19.9%.

According to the IMF report, the economic growth ratio is expected to be 3.5 percent this fiscal year. Last fiscal year, the economic growth rate was recorded at 6 percent. Current account deficit is expected to be 2.5 percent of GDP this fiscal year.

The unemployment ratio was recorded at 6.2 percent last fiscal year. The inflation ratio was recorded at 12.1% in the last financial year. The current account deficit in terms of GDP stood at 4.6 percent last fiscal year.