The International Monetary Fund (IMF) has projected a growth in Pakistan’s trade deficit. As per the forecast, during the upcoming fiscal year, both exports and imports are anticipated to expand.
The IMF anticipates a $4.165 billion increase in Pakistan’s trade deficit in the new fiscal year. Imports are predicted to surge by $5.517 billion, while exports are forecasted to climb by $1.352 billion.
The IMF suggests that Pakistan’s trade deficit could reach $27.923 billion in the coming fiscal year. Import volumes are projected to hit $60.48 billion, whereas exports are estimated to be $32.56 billion.
For the current fiscal year, Pakistan’s trade deficit is expected to stand at $23.76 billion, with imports estimated at $54.96 billion. Exports are anticipated to reach $31.2 billion by the fiscal year’s end.
Earlier, following discussions with Pakistan, the IMF released an official statement confirming Islamabad’s formal request for a new loan program. The statement emphasizes Pakistan’s efforts to enhance revenue generation and underscores the importance of equitable tax collection from affluent sectors.
