Details indicate that the finance minister would meet with foreign lenders to examine the microeconomic framework for 2022–2023 as the nation suffers from terrible floods.
According to a Pakistani official, a lowering of the budget deficit and current account deficit targets will be demanded. The Petroleum Development Levy (PDL) and Fuel Price Adjustment (FPA) are two other topics that are anticipated for discussion.
lowered Pakistan’s sovereign credit rating from B3 to Caa1, citing rising government liquidity and external vulnerability risks, the central bank of Pakistan likewise left its key policy rate constant at 15%.
Since the summer floods, which claimed more than 1,700 lives and cost an estimated $30 billion in damage, the central bank has made just one policy move.
Compared to the prior prediction of 3%-4% before the floods, GDP growth could drop to about 2% in the 2023 fiscal year, according to the central bank statement.
