- 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
Friday, August 21, 2009
Some Macroeconomic Data Points about Pakistan
From a recent WSJ article, here are some macroeconomic data points:
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