ISLAMABAD – Almost all major economic indicators have deteriorated in the first month (July) of the current fiscal year over the corresponding period of the previous year.
Apart from exports, all other economic indicators including imports, current account deficit, foreign investment, foreign exchange reserves and inflation rate have deteriorated in July 2022 as compare to same period of the previous year, according to the latest data of the Ministry of Finance. Inflation based on Consumer Price Indicator (CPI) for the month of July FY 2023 is recorded at 24.9 percent as compared to 8.4 percent during the same month last year. This was the second consecutive month in which annual inflation escalated above 20 percent.
Meanwhile, the current account posted a deficit of $1.2 billion for July FY 2023 as against a deficit of $851 million last year, mainly due to decline in workers’…
