The claim of the Ministry of Finance that the rate of inflation will come down below 10 percent soon

Finance Minister Muhammad Aurangzeb has claimed that very soon the rate of inflation in the country will come down below 10%.

The Ministry of Finance has released the monthly economic update outlook report, according to which the country’s economy is heading towards stability in the year 2024, while the situation will improve further after the agreement with the IMF.

The traders announced a protest on August 1

According to the report, inflation was 11.8 percent in May, 12.6 percent in June 2024, inflation is likely to be 12 to 13 percent in July, and 11 to 12 percent in August.

Current Account Deficit, Inflation Decreasing and Exchange Rate Stable While Agricultural Sector’s performance was good, Industrial Sector’s recovery continues.

Exports and remittances increased, fiscal deficit was 4.9% in 11 months. Exports are expected to be 2.4 to 2.7 billion dollars in July while imports are estimated to be 4.5 to 4.9 billion dollars in July.

In the interbank, the dollar became 278 rupees 66 paise

In July-May 2024, more than 1972 billion loans were given to the agriculture sector, the agriculture sector received 26% more credit than the previous financial year.