Islamabad: The Executive Board of International Monetary Fund (IMF) has welcomed improvement in Pakistan’s economy as a result of economic reforms.
IMF Executive Board said Pakistan’s GDP growth, which was 3.7 per cent in 2013, has now increased to 4.2 percent, Radio Pakistan reported.
The Board said despite difficult circumstances, Pakistan’s economy has shown improvement since 2013. He said GDP growth, which was 3.7 per cent in 2013 has now increased to 4.2 percent.
The Board appreciated Pakistan Government’s efforts to decrease fiscal deficit from 8.4 to 5.4 percent.
It said there is a clear decrease in inflation in the recent years. He said Pakistan’s foreign exchange reserves have also shown steady increase.
Board has lauded steps of the Government to increase revenue collection and decreasing subsidy on electricity. IMF Board also appreciated restructuring of institutions running in losses.