Mid‐Year Review of Economic Situation of pakistan

Mid‐Year Review of Economic Situation of pakistan
(July‐December 2008)


Pakistan economy is facing mounting pressures from ever‐rising inflation, food prices, the
acute power shortages, a bewildering stock market, a perceptible slowdown in the
manufacturing and services sectors, a sharp increase in interest rates, and widening current
account deficit. The Economic Stabilization Program of the government aimed at reversal of
the situation to promote a stable macroeconomic environment. Signs of early recovery are
becoming visible while fiscal and current account deficits has depicted improvement,
exchange after depreciating by almost 16‐18 percent in the period July‐November 2008 has
remained stable at Rs.79 to a dollar, inflation has started responding to the demand
management, and foreign exchange reserves are starting building‐up. A brief review of the
economic situation during the first half of the current fiscal year 2008‐09 is given below link

Mid‐Year Review of Economic Situation of pakistan