According to Pakistan’s Finance Ministry, inflation would remain high. It was reported that Citing worldwide experience, Pakistan’s central bank noted in its annual report that nations prioritizing growth over pricing and financial stability are unable to “sustain growth and avoid repeated boom-bust cycles and the financial crisis.”
Given that the country’s fiscal deficit increased by more than 115 percent between July and October of the current fiscal year, 2022-2023, Pakistan’s Ministry of Finance (MoF) predicts that inflation will continue high, ranging between 21 and 23 percent in 2023.
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