ADB report forecasts inflation to go down from 25pc to 15pc in Pakistan

05:50 PM | 11 Apr, 2024
ADB report forecasts inflation to go down from 25pc to 15pc in Pakistan

The Asian Development Bank (ADB) has predicted a decrease in inflationary pressures in the region including Pakistan.
The Asian Development Bank has released its annual Asian Development Outlook report. It anticipates a decrease in inflation in Pakistan in the coming fiscal year, with rates expected to drop from over 25% to as low as 15%. The current fiscal year's growth rate for Pakistan is projected to remain at 1.9%.
According to the report by the Asian Development Bank, Pakistan's heavy reliance on global financial institutions and friendly countries for external payments necessitates measures to enhance women's financial inclusion. 
There are hopes for improvement in agricultural production and industrial sectors in Pakistan in the coming fiscal year, although progress has been hampered by rising construction costs and tax increases.
Pakistan's future fiscal year is estimated to have a growth rate of 2.8%, with the possibility of inflation remaining at a high level of 25%, but it is expected to decrease to 15% in the coming fiscal year, accompanied by stabilization in food prices.
According to the report, under the IMF program, energy prices are expected to remain high due to an increase in energy sector costs, with regional growth estimated to remain at 4.9% due to increased local demand, exports, and tourism in Asian countries.
The report suggests that China's growth rate could be 4.8%, while India's growth rate could be 7%. Pakistan's economy has contracted due to political uncertainty and floods, with inflation exceeding the record of the past five decades last year. Economic recovery could begin this year if reforms are implemented.

Daily Pakistan Global Web Desk


Currency Rates in Pakistan Today - Pak Rupee to US Dollar, Euro, Dirham, Riyal 19 May 2024

Pakistani currency rates against US Dollar and other currencies on May 18, 2024 (Saturday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.4 for buying and 280.35 for selling.

Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 19 May 2024

Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 297 299.5
UK Pound Sterling GBP 348.5 352
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 181 183
Bahrain Dinar BHD 747.77 755.77
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40.25 40.65
Hong Kong Dollar HKD 35.96 36.31
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegian Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Baht THB 7.57 7.72


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