Friday, August 21, 2009

Some Macroeconomic Data Points about Pakistan

From a recent WSJ article, here are some macroeconomic data points:
  • On August 15 central bank reduced benchmark interest rate by 1% to 13%
  • The previous reduction by 1% was done in April
  • The rates were raised by 5% in 2008 to reign in inflation
  • Inflation was 25.3% in August 2008, 19.1% in March 2009, and 11.2% in July 2009
  • Economic growth was 2% in the previous fiscal year, and was average of 6% during previous 5 years
  • Growth is expected to be 3.3% during the current fiscal year
  • Fiscal deficit was 5.1% of GDP during last fiscal year, and 7.4% during the year before that
  • Current-account deficit was $8.6 billion during last fiscal year, and $13.6 billion during the year before that
  • Foreign-exchange reserves were $11.846 billion for the week ended August 8

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