Pakistan inflation to slow to 8-9% in September and October, says government report
Pakistan’s annual consumer price inflation is set to decrease further to 8-9% in September and October, according to an economic outlook report issued by the finance ministry on Friday.
Annual inflation slowed to 9.6% in August, dropping into single digits for the first time in nearly three years.
On Wednesday, the struggling economy got a boost with the approval of $7 billion in funding from the International Monetary Fund.
Pakistan’s central bank said on Friday it had received a first tranche, worth $1 billion.
The terms of the bailout require the $350 billion economy to maintain fiscal discipline and broaden its tax base.
The report said the government was committed to fiscal consolidation.
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