Pakistan’s finance ministry says a positive trend is expected in the country’s economy due to increased government policies, revenues and foreign investment during the Corona epidemic.
According to a report published on the website of the Pakistani Ministry of Finance, the economy in Pakistan, like most other countries in the world, contracted during the Corona epidemic, but instead of Pakistan’s central bank policies, government awareness program and complete lock down, smart Measures such as lock downs are expected to improve the Pakistani economy in July. It should be noted that in the financial year 2012, Pakistan’s growth rate has been negative 0.4 percent.
The report states that the current account deficit in Pakistan has decreased by 78% in FY 2020 compared to FY 2019. Which means that Pakistan has significantly reduced imports. In addition, remittances to Pakistan increased by about 2 billion, and foreign investment in the country rose 88 percent to 2.6 billion in FY 20.
Pakistan received 21 21.9 billion from other countries this year, compared to 21 21 billion sent by Pakistani migrants throughout the year 2018. Remittances so far this year account for 7.9% of Pakistan’s GDP.