The International Monetary Fund (IMF) recently talked about the Middle East and Central Asian countries. They said the Palestinian-Israeli conflict might make things worse for the area.
They predict Pakistan will have more growth in 2024 than in 2023. This shows the country’s economy is doing better. But, because of bad fiscal policies and higher electricity and gas prices, prices are going up.
Pakistan also has problems paying its bills from other countries and had to borrow a lot of money. This makes it harder for businesses to get loans.
To fix this, the IMF says Pakistan needs to spend less money, stop giving tax breaks, and collect more taxes. They think allowing more trade could boost exports by 15%. And, improving trade systems could make exports go up by 8%. Simplifying rules could add another 6%.
The IMF also mentions that wars, buying oil from other countries, and other problems are holding back Pakistan’s economy. It’s tough for both the government and businesses to get loans.
The report also says using technology and making customs easier could help Pakistan sell more things and grow its economy.
Overall, the IMF report says Pakistan needs to fix its money problems and make changes to sell more things and keep growing.
