Tue, 21-Oct-2025

Watch Live

logo-black

Download App

اردو

GDP

Aurangzeb highlights economic turnaround at Harvard University conference

by
Aurangzeb

ISLAMABAD: Federal Minister for Finance Senator Mohammad Aurangzeb, while speaking at Pakistan Conference 2025 at Harvard University, said that Pakistan had reached a pivotal moment of economic recovery and transformation. “After inheriting an economy facing significant challenges—from contracting GDP to depleting reserves—we have stabilized the fundamentals, restored confidence, and reignited growth,” he said at the … Read more

IMF agreed on proposal to spend 1% of GDP annually on climate change

by
IMF
  • The officials discussed National Clean Air Policy with IMF mission.
  • A plan to get 60% energy from alternative sources by 2030 was shared.
  • Plans to ban 30% of electric vehicles and imported coal by 2030.

ISLAMABAD: Pakistan has shared a plan to obtain energy from alternative sources with International Monetary Fund (IMF).

According to the sources, the officials of the Climate Change and Planning Commission discussed the National Clean Air Policy with the IMF mission.

Sources say that a plan to get 60 percent of energy from alternative sources by 2030 was shared with the IMF mission, in addition to plans to ban 30 percent of electric vehicles and imported coal by 2030.

Sources said that the proposal to spend one percent of GDP annually on climate change was agreed to by the IMF mission.

According to the sources, the IMF mission was briefed on the Green Energy Mix, Billion Tree Tsunami Project under the Clean Air Policy and it was told that the burning of crop residues is banned to control environmental pollution and under the National Clean Air Policy, Euro 5, Euro 6 transport technology policy is being implemented.

Sources said that in the briefing on increasing credit and other financing options for clean air policy between the federation and the provinces, it was said that preparations are being made for the upcoming Conference of Parties (COP 28) held in the United Arab Emirates.

Early warning system measures under the National Adaptation Plan were also discussed.

[embedpost slug=”china-to-import-milk-dairy-products-from-pakistan”]

Read more

Inflation rate for current fiscal year will remain at 23.6%: IMF

by
Inflation
  • IMF released World Economic Outlook Report.
  • This year unemployment is likely to decrease to 8%.
  • The current account deficit will remain at 1.8%  of GDP .

ISLAMABAD: The International Monetary Fund (IMF) has predicted that the inflation rate in Pakistan for the current financial year will be 23.6 percent and the Gross domestic product (GDP) growth is estimated to reach 5 percent by the year 2028.

The International Monetary Fund (IMF) released the World Economic Outlook Report.

According to the IMF, the economic growth rate of Pakistan will be 2.5 percent for the current fiscal year.

The last financial year’s unemployment rate was 8.5 percent but this year unemployment is likely to decrease to 8 percent while the current account deficit will remain at 1.8  percent of GDP this year.

In the IMF report, it is said that the effects of the Corona epidemic and the Russia-Ukraine war are continuing at the global level.

The IMF says in the report that the global economy continues to recover from the COVID-19 pandemic, Russia’s invasion of Ukraine, and the cost-of-living crisis. In retrospect, the resilience has been remarkable.

According to the Fund’s latest projections, world economic growth will slow from 3.5 percent in 2022 to 3 percent this year and 2.9 percent next year, a 0.1 percentage point downgrade for 2024 from July. This remains well below the historical average.

[embedpost slug=”imf-calls-for-leasing-government-owned-enterprises-utility-stores”]

Read more

Finance Ministry releases Debt Strategy Report from 2023-26

by
Finance Ministry releases Debt Strategy Report from 2023-26
  • GDP growth has been set at 5.5 percent till 2026.
  • Limiting inflation rate to 7.5 percent in fiscal year 2025.
  • Target has been set to limit GDP growth to 5.0 percent.

ISLAMABAD: The Ministry of Finance released the Debt Strategy Report for the medium term from 2023 to 2026.

According to the report, GDP growth has been set at 5.5 percent till 2026, besides setting a target of controlling the inflation rate at the level of 6.5 percent till the fiscal year 2026 and limiting the inflation rate to 7.5 percent in the fiscal year 2025.

The Ministry of Finance said that the target has been set to limit GDP growth to 5.0 percent and fiscal deficit to 5.1 percent by the next fiscal year.

According to the Ministry of Finance, Rs 5.7 trillion in debt repayments have to be made in the current fiscal year, and Rs 5.5 trillion in debt repayments have to be made in the fiscal year 2025.

The debt repayment burden will be reduced during the fiscal year 2026 and fiscal year 2027. Issuance of bonds and borrowing on long-term policy will be preferred.

[embedpost slug=”pm-encourages-india-to-embrace-cpec-as-an-opportunity-not-challenge”]

Read more

OIC states urged to invest 1% of GDP in research and science

by
OIC states
  • Experts said Muslim World are required to create technology parks.
  • Prof Iqbal Ch said, science is like a one language.
  • He was speaking in the concluding session of the IAS.

KARACHI: The 24th Conference of the Islamic World Academy of Sciences (IAS), has urged the OIC member states to invest at least One Percent of their GDP in research in science, technology and innovation (STI) for socio-economic development.

The expert-participants have called on OIC member states for the inclusion of enquiry-based education to enhance creativity, curiosity and problem solving for building-capacity in STI and enriching human resources.

They were speaking in the concluding session of the 24th Conference of the IAS on “Challenges to Promote Science & Technology for Socio-Economic Development in OIC Countries” held at the International Center for Chemical and Biological Sciences (ICCBS), University of Karachi on Wednesday.

Prof. Dr. M. Iqbal Choudhary, Director of the ICCBS, and COMSTECH Coordinator-General, and IAS President Prof. Adnan Badran (Jordan), addressed the concluding session.

Speaking on the occasion, Prof. Iqbal Choudhary pointed out that there was a dire need to bridge the gap between the academia and industry in the OIC member states for joint R&D leading to socio-economic development.

Countries in the Muslim World are required to create technology parks and incubators to commercialize the delivery of research and innovations into start-up SMEs and enhance diversification of new materials and quality control, he said.

Prof. Iqbal Choudhary said, “Science is like a ‘one language’ which unites the whole humanity”.

Through science and technology nations can bridge the gap, and engage themselves in a productive and useful dialogue for common human values, he said.

He also informed the participants about various programs and initiatives of COMSTECH, which included the largest research fellowships program in the OIC region.

[embedpost slug=”president-urges-students-to-enhance-their-intellectual-abilities”]

Read more

Moody’s downgrades Pakistan’s rating to Caa3; changes outlook to stable from negative

by
Moody’s downgrades Pakistan’s

Moody’s has also downgraded the rating for the senior unsecured MTN programme to (P) Caa3 from (P) Caa1. Moody’s assessment that the pressures that Pakistan faces are consistent with a Caa3 rating level. Moody’s has lowered Pakistan’s local and foreign currency country ceilings to Caa1 and Caa3 from B2 and Caa1. KARACHI: Moody’s Investors Service … Read more

Philippine economy grows at 7.2% rate in Q4 2022, higher than expected

by
philippine economy

The Philippine economy grew 7.2% annually in the fourth quarter of last year. GDB increased by 2.4% on a quarterly basis. 2022’s growth was higher than that of 2021. The statistics office said on Thursday that the Philippine economy expanded at an annual pace of 7.2% in the fourth quarter, surpassing estimates. According to a … Read more

China state media warns investors to avoid Yuan in 2023

by
china yuan

The yuan in China has risen 2.2% against the dollar this year. The currency has been propelled by hopes for an economic revival. Three state-run newspapers advise investors to prepare for more foreign exchange volatility. Following more than a week of significant yuan increases, three state financial journals in Shanghai and Beijing cautioned in a … Read more

Second Dalfa cattle show scheduled from December 30

by
Dalfa cattle show

The DALFA Cattle Show is all set to be held at the Karachi Expo Centre. three-day show starting from December 30th. Harris Mithani said, show is about the importance of sectors of the country. The cattle show is a regular event to highlight investment opportunities and advance technology in the dairy, livestock, agriculture and fisheries … Read more

As China’s anxieties mount, Taiwan’s recruitment pool decreases

by
Taiwan

Taiwan’s defense gap is growing. It can’t be solved by increasing spending or buying more weaponry. The island democracy of 23.5 million faces a growing struggle to recruit enough young men to satisfy its military requirements. Taiwan’s defense gap is growing. It can’t be solved by increasing spending or buying more weaponry. The island democracy … Read more

China pushes for arduous economic initiatives

by
china

Arduous efforts are needed to prolong China’s economic recovery. The world’s second-largest economy is projected to benefit. The abrupt relaxation of controls risks greater outbreaks of the virus Due to a harsh external environment and the global economy’s lack of momentum, “arduous efforts” are needed to prolong China’s economic recovery, the country’s top state planner … Read more

Cuba seeks to amass foreign investment despite on going crisis

by
cuba foreign investment

Cuba announced that it has completed 30 foreign investment projects. This is more than in 2021 but significantly less than pre-pandemic levels of up to $2 billion. Cuba’s GDP has plummeted by 9.8% since 2019. Cuba announced on Tuesday that it has completed 30 foreign investment projects worth approximately $400 million this year, which is … Read more

Economy of South Korea likely to halt in Q3 2022

by
south korea economy

The economy of South Korea is expected to slowly crawl in the third quarter. Faltering exports and rising interest rates knocked the wind out of what had been a strong run. The median projection of 22 economists polled between October 20-24 was 2.8% annual growth. The economy of South Korea is expected to slowly crawl … Read more

Asian shares wary as Wall Street prospects slip

by
Asian

Asian shares are cautious as Wall St futures slip. Soft U.S. data suggests downside risks for this week’s June payrolls report. 10-year yields holding around 2.88% having fallen 61 basis points from their June peak. MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.3%. Investor demand for the most liquid safe haven has … Read more

US GDP forecasts are cut due to sluggish consumer spending

by
US GDP

Some economists believe the world’s largest economy will contract for a second straight quarter.  Personal spending climbed by only 1.8% in the first three months of the year, down from previous estimate of 3.1%. Annualized GDP projections have been reduced to 1% from 2.7% previously. Several economists slashed their second-quarter US GDP forecasts in the … Read more

Following the Fed’s pronouncement, Wall Street is up in tumultuous trade

by
trade

The S&P 500 rose more than 1% in choppy trade on Wednesday. The Federal Reserve raised interest rates to meet market expectations. The central bank is trying to fight rising inflation without tilting the economy into a recession. It projected a slowing economy and rising unemployment for months to come.  The S&P 500 rose over … Read more

UK economy contracts in April as inflation weighs

by

Output in the services, manufacturing, and construction sectors decreased. It is the first time that all major sectors have contributed negatively to a monthly GDP estimate. The ONS cited the effect of price rises and supply chain shortages as the cause for the decrease. Official data released Monday indicated that British economic output fell for … Read more

Ukraine’s economy shrinks by 15 percent

by
economy

Ukraine’s GDP contracted by 15.1 percent in the first three months of this year. It is expected to decrease by 35 percent in 2022. Ukrainian finance minister Sergiy Marchenko told that he expected a drop of 45-50 percent. According to the state statistics agency, Ukraine’s GDP contracted by 15.1 percent in the first three months … Read more

Japan’s Q1 GDP falls less then first

by
Japan's

Japan’s economy shrank an annualized 0.5% in January-March. That was a more modest drop than the primer perusing of a 1.0% fall delivered the month before. Steady production network disturbances stay a gamble to financial energy in April-June. Japan’s economy shrank somewhat not exactly at first revealed in primary quarter, as confidential utilization stayed strong … Read more

Wall Street stocks open higher, extending gains

by

US shares were given off to every other stable start Thursday, extending the gains made inside the prior session amid a flurry of tremendous income news from fundamental stores. While government statistics showed the United States economic downturn within the first area was barely worse than at the start suggested, with GDP contracting 1.5 percent, patron spending … Read more

Putin hikes social payments and seeks to reassure on inflation

by
Putin negotiation with zelensky

Russian President Vladimir Putin sought to reassure the public In the face of rising inflation, on Wednesday by announcing increases in pensions and social benefits. “From June 1, I plan to increase the pension by 10 percent for non-working retired people,” Putin said at a televised meeting with officials including regional governors. Pensions will increase at … Read more

Inflation Could Surely Lead To Bankruptcy

by
Inflation

The recession is within the playing cards and not because of the recent file of declining actual GDP inside the first sector. That was more the made of statistical particulars than something fundamental. A real recession looms despite the fact that some months out due to the high-quality inflationary pressure confronting this economic system. Only … Read more

Pandemic school closures could inflict lasting economic toll: IMF

by
Pandemic

School closures all through the pandemic have set again children’s mastering in lots of G20 nations and will have a long-lasting negative impact on GDP in superior economies, the IMF stated Tuesday. Recent tests of schoolchildren display that sizeable virtual learning throughout the Covid-19 pandemic led to decrease instructional ranges in India, Germany, the UK, … Read more

Remittances to Ukraine to jump over 20 percent: World Bank

by
Ukraine

The World Bank predicted that payments from overseas workers to low- and middle-income nations will climb by 4.2 percent this year, with Ukraine as the primary recipient. According to the bank, migrant workers are anticipated to send $630 billion back to their home nations. Remittances to Ukraine, currently fighting off the Russian invasion, are expected … Read more

China: Country’s economy regresses continuously

by
China

As a result of Covid lockdowns, China’s massive services industry just contracted at the second-fastest rate on record. According to a survey released by an international publication on Thursday, the Caixin purchasing managers’ index, a frequently monitored barometer for measuring the status of the economy, fell to 36.2 in April from 42 in March. Anything … Read more

Oil propels Saudi GDP growth to near 10% in first quarter

by
Saudi Arabia

Saudi Arabia’s economy grew at its quickest rate in a decade in the first quarter of this year, thanks to a surging oil industry that fueled a 9.6% increase over the same time in 2021. The preliminary results come after the world’s biggest oil exporter resisted US entreaties to raise output in an attempt to … Read more

IMF Pegs India’s 2022 GDP Growth At 8.2%; US At 3.7%, China At 4.4% & Russia At -8.5%

by

International Monetary Fund’s projection of India’s 8.2% GDP growth is 0.8% lower than its projection in January. In FY24, GDP is projected to grow by 6.9% The International Monetary Fund (IMF) decreased its global economic prediction for 2022 to 3.6 percent, down from 6.1 percent in 2021, due to the slowing development of the world’s top … Read more

Menu

Latest

Entertainment

Lifestyle